Copyright © Emerce 2023

Expedia Group CEO Peter Kern is stepping down in May, the travel giant announced Thursday. He will be replaced by Ariane Gorin, currently president of Expedia for Business.

Kern remains vice chairman of the company and remains a member of the board of directors, which he has served on since 2005.

Kern took over as CEO during the pandemic, which torpedoed the travel market.

The company wanted an internal executive to succeed Kern and determined that Gorin was "the best candidate given her exemplary leadership.

Expedia reported Thursday revenue of 12.8 billion in 2023, up 10 percent from the previous year, and adjusted net income of 1.4 billion.

The company surpassed estimates for the fourth quarter, yet shares surrendered.

© The Content Exchange, source News