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Expedia surges after announcing its CEO and CFO’s immediate resignations

Expedia HQs

  • 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.

Expedia stock jumped as much as 7.6% in early Tuesday trading after the travel company announced read more >>>

Source:: BusinessInsider.Com