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Expedia Group, the online travel conglomerate that includes Orbitz, Vrbo, Hotwire and several other metasearch engines, announced this morning that CEO Mark Okerstrom and CFO Alan Pickerill have resigned.
Their resignations come after a reorganization plan led by Okerstrom failed to bring results in the company’s third quarter. Expedia chairman Barry Diller will now oversee day-to-day operations, while chief strategy officer Eric Hart will step in as acting CFO.
The board of directors is tasked with determining the “long-term leadership of the company,” according to statement from Expedia.
“This reorganization, while sound in concept, resulted in a material loss of focus on our current operations, leading to disappointing third-quarter results and a lackluster near-term outlook,” Diller said in a statement.
“The
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