Expedia's New CEO Is Mark Okerstrom
Skift Take
There is only one vote that mattered in Expedia's abbreviated CEO search — Barry Diller's. And he wholeheartedly wanted Okerstrom for the job. No need to mess around with an interim title or to conduct the dog and pony show of a CEO search. It was a done deal. Now Okerstrom has to step up to the challenge.
Expedia Inc. appointed Mark Okerstrom, its CFO since September 2011, as President and CEO on a permanent basis to replace Dara Khosrowshahi, who left to become the boss of Uber.
Okerstrom was seemingly the heir apparent but it's a bit of a surprise that the Expedia board didn't select an interim CEO and conduct a search for internal and external candidates.
But Expedia had a succession plan and the board felt that there was no need for a search because the pick was a relative no-brainer. Barry Diller, Expedia's chairman and senior executive, has voting control of the company.
Diller and the board didn't consider any candidates other than Okerstrom, Diller said in the appointment announcement.
“We all wish Dara Khosrowshahi the best good fortune as Uber’s CEO. I think we are both proud that he leaves behind such a talented organization. Our leadership team, over 12 strong, is as substantial a group of executives as I’ve ever worked with. Prior to Dara leaving, Mark Okerstrom was his principal partner in operating the company — and therefore this transition is as natural as water flowing down a snow-packed mountain. There was no other candidate that the Board considered. Under Mark’s leadership, surrounded by his excellent and tenured executive team, I’m confident we’ll continue to grow and prosper.”
The dramatic turn of events began to unfold Sunday night when The New
