Expedia’s CFO and executive vice president of operations Mark Okerstrom will succeed Dara Khosrowshahi, who recently left the giant OTA to head Uber.
Okerstrom will also join Expedia's board of directors, while Khosrowshahi will continue to be a member of the board.
Okerstrom a clear choice
As Expedia’s CFO, Okerstrom held responsibility for all aspects of finance –including planning & analysis, procurement, real estate and investor relations – as well as corporate strategy and mergers and acquisitions for Expedia.
Okerstrom's role was expanded in 2014, adding responsibility for the company's eCommerce Platform Group which includes centralised technology, payments, risk and global customer operations.
From 2006 to 2011, Okerstrom was Expedia’s senior director, corporate development and strategy, vice president of corporate development and strategy, and senior vice president of corporate development.
Prior to joining Expedia, Okerstrom was a consultant with Bain & Company and worked with UBS Investment Bank in London. Before that, he practised as an attorney with Freshfields Bruckhaus Deringer in London.
Expedia chairman Barry Diller said that the decision was a “natural” one as Okerstrom was Khosrowshahi’s principal partner in operating Expedia, and that no other candidate was considered by the Expedia board.
Meanwhile at Uber, new chief Khosrowshahi announced plans to lead the company to an IPO in 18 to 36 months and change its culture, Reuters reported.