Expedia Group announced that Ariane Gorin will take over as CEO on May 13, succeeding Peter Kern, whose contract ends in May.
Gorin, who has worked at Expedia Group in various executive roles since 2013, currently serves as president of Expedia for Business, where she leads the company’s global supply partner group, advertising business and B2B partner network.
Kern became CEO in 2020 and will continue to serve as vice chairman and member of the company’s board of directors, where he will work with Gorin to “ensure a smooth transition,” according to Expedia Group.
Barry Diller, Expedia Group’s chairman and senior executive, said the company “very much wanted an internal candidate to succeed to the CEO position,” and that the board picked Gorin “following a comprehensive search.”
In statements, executives cited Gorin’s success with financial results at Expedia for Business, where B2B revenue grew by 33% in 2023 from 2022. “She is a proven leader, answering any challenge thrown at her, including most recently as head of our tremendously successful B2B business,” said Kern.
The announcement came as part of Expedia Group’s fourth-quarter and full-year 2023 earnings report on Thursday. Though the company posted its highest-ever full-year and Q4 revenues, both up 10% year-on-year, gross bookings were lower than expected, according to Bloomberg.
Upon the announcement, shares in the group fell by as much as 13%, according to Seeking Alpha.