Expedia surges after announcing its CEO and CFO’s immediate resignations
|12/04/2019||Posted by BusinessMediaguide.Com under General World News||
- Expedia stock soared as much as 7.6% early Tuesday after the company announced the resignations of CEO Mark Okerstrom and CFO Alan Pickerill.
- The ouster was driven by a disconnect between Expedia’s board and senior management, chairman Barry Diller said in a statement, citing an “ambitious” restructuring plan that yielded “lackluster near-term outlook.”
- Expedia also announced a 20 million-share buyback program, with Diller noting he would personally purchase more shares as a “tangible sign of my faith” in the company.
- Watch Expedia trade live here.