Four years after stepping into the role of CEO of Expedia
Group, Peter Kern announced he will leave the position in mid-May and Ariane Gorin,
currently president of Expedia for Business, will become CEO.
Kern will remain in the role of vice chairman and as a member of
Expedia Group’s board of directors.
He shared the news at the start of the company’s call with
financial analysts to discuss its fourth quarter and full year 2023 earnings
report, in which the company reported its highest ever full-year and
fourth quarter revenue, both up 10% year-over-year, and record full year
adjusted EBITDA of $2.7 billion.
In his four years as CEO, Kern has led a widespread transformation
at the company, including a complete overhaul
of its tech stack, the creation of a loyalty
program unified across brand Expedia, Vrbo and Hotels.com, substantial growth
of its B2B business and early experimentation with and adoption of generative
artificial intelligence.
“I am proud of
and grateful to the team we have built at Expedia Group and the tenacity and
resilience they demonstrated as we worked through an incredibly ambitious and
challenging transformation. We have quite literally reset the Company for the
future, and we are in position to lead our industry for decades to come,” Kern
said.
“I have had the
pleasure of working closely with Ariane for these last four years. She is a
proven leader, answering any challenge thrown at her, including most recently
as head of our tremendously successful B2B business. As vice chairman, I look
forward to working closely with Ariane and our leadership team as they continue
the momentum we have built and realize on all the opportunity that our
transformation has created.”
Gorin has held various executive roles with Expedia Group since
2013. As president of Expedia for Business she led the company’s global supply
partner group, advertising business and B2B partner network that powers brands
such as Walmart
and Mastercard.
The company’s B2B revenue grew 33% in 2023 compared to 2022 to $3.4 billion.
“Ariane Gorin is a superb executive that all of us at Expedia
Group and our Board have worked with for ten years,” said Barry Diller, Expedia
Group’s chairman and senior executive.
“We very much wanted an internal candidate to
succeed to the CEO position, and following a comprehensive search, the Board
determined Ariane was the best candidate given her exemplary leadership.”
And said Gorin, “I am truly honored to have the opportunity to lead Expedia Group
as we build on the foundations established by Peter, our leadership team and
our global workforce. Leading our multibillion-dollar B2B business has been an
incredible experience and I look forward to even greater growth ahead for the
entire company. It’s an exciting time in the company’s history, and I’m
energized by the opportunities ahead for our employees, travelers and partners.”
In late January, Kern spoke with PhocusWire editor in chief Mitra Sorrells, with reflections on his career and future priorities for Expedia Group. Watch the full discussion below. This is a developing story and will be updated.
PhocusWire Executive Interview: Expedia Group