TripAdvisor CEO Cedes Some Power Over Attractions and Vacation Rentals
Skift Take
When it comes to TripAdvisor's Business Listings, product development, engineering and sales and marketing, the buck, euro and renminbi stop with CEO Stephen Kaufer. But as the importance of vacation rentals and tours and activities have grown, Kaufer has delegated meaningful power to others. At least on paper.
TripAdvisor CEO Stephen Kaufer undoubtedly is the ultimate decision-maker, subject to board approval, over the company's operations but he recently gave up some power over TripAdvisor's tours and activities, and vacation rentals businesses.
Until now, although the investor relations section of TripAdvisor.com lists 14 people as management, only three were considered "executive officers" with policy-making power and real authority over their business units. They were CEO Kaufer, who is the principal executive officer, CFO Julie Bradley and general counsel Seth Kalvert.
"While other senior employees may have titles that include 'president' or 'vice president,' these senior employees are not in charge of their principal business units, in light of limitations on the responsibilities and authority," an attorney representing TripAdvisor wrote to the Securities and Exchange Commission last November in response to an SEC inquiry.
