Skift Travel Health Index: January 2023 Highlights, Online Travel Booking Trends During the Pandemic. Immediately prior to his appointment as Chief Executive Officer, Mr. Kern, along with Mr. Diller, had overseen Expedia Groups executive leadership team, managing day-to-day operations, since the departure of the Companys former Chief Executive Officer in December of 2019. No one wants to. He then moved into private equity for more than 20 years, which is where he says he learnt the importance of recruiting good people and giving them space. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. Mr. Peter M. Kern is a President & Chief Executive Officer at Tribune Media Co., a Chairman-Supervisory Board at trivago NV, a Chairman at Gato Investments LP, a Chairman at Hemisphere Media Group, Inc., a Vice Chairman & Chief Executive Officer at Expedia Group, Inc., a Co-Founder & Managing Partner at InterMedia Advisors LLC and a Managing Keep abreast of significant corporate, financial and political developments around the world. Expedia is planning for a boom in travel as more people get vaccinated. Kern has needed a measure of calm throughout the two years he has been Expedias chief executive. 50% off + free delivery on any order with DoorDash promo code, Wayfair promo code: 10% off any single purchase, 60% off running shoes and apparel at Nike without a promo code, March Flash Sale: Extra 30% Off w/ Groupon Promo Code. I think we'll be coming out of this meaningfully improved as an industry, starting next summer. Peter Kern is currently Vice Chairman of the Board and Chief Executive Officer at Expedia Group - View - Expedia Group org chart Mr. Altman is the Chief Executive Officer and a member of the Board of Directors of OpenAI an organization dedicated to ensuring artificial intelligence benefits all of humanity. Where are the biggest pressure points in their businesses and the wider industry that might still emerge? If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. Rathihas held senior technology leadership roles at some of the worlds best technology companies including eBay, Inc., Yahoo, Sun Microsystems and WebMD. Kern's discussion with PhocusWire's Kevin May will broadcast LIVE on Wednesday, July 15, 2020. As Covid spread and travel restrictions increased, Kern had to motivate employees who, already reeling from redundancies, were threatened by what looked to some like an existential threat to the travel industry. Prior to. News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. Match, Barry Diller, and Interactive Corp Liberty. Julie Whalen is Executive Vice President and Chief Financial Officer of Expedia Group. In February this year, Expedia said it had achieved record fourth quarter adjusted earnings despite ongoing uncertainty in the travel industry. Chesky had a nice pay day on paper like Kerns for 2020, namely $120 million, and Kaufers total compensation announced in 2013 was $39 million. I think the biggest challenge for OTAs, generally, is taking care of the customer through Covid. He is also a member of The Business Council. Distribution and use of this material are governed by Expedia Group used to be like a sports team where the athletes were competing against each other rather than using the same game plan. Rathialso currently sits on the board of directors for PagerDuty. Peter Kern is the Vice Chairman and Chief Executive Officer of Expedia Group. This copy is for your personal, non-commercial use only. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. Solugen Bio has built a chemical plant that produces all manner of chemical-based products using bio-based feedstock instead of fossil fuels. Javascript is required for this site to display correctly. From February 2014 through March 2019, he served as President of Y Combinator, a provider of advice and seed financing for startups. The latest news about online travel delivered weekly to your inbox. Kern translates this into the words of Lionel Richie, his favourite judge from the television show American Idol: There is no losing. from Cornell University and a J.D. Expedia Group Vice Chairman and CEO Peter Kern's 2021 total compensation was $296 million. On average, Expedia Inc executives and independent directors trade stock every 11 days with the average trade being worth of $5,901,815. Compare Standard and Premium Digital here. Vrbo did great and continues to be super strong. He has been vice chairman since 2018, and a board member since 2005. Prior to Alpine Capital, Mr. Kern founded Gemini Associates in 1996 and served as President from its inception through its merger with Alpine Capital in 2001. I believe cities will come back, of course, and will be beneficiaries of international travel again. They want to. Mr. Khosrowshahi has served as the Chief Executive Officer of Uber Technologies, Inc. since August 2017. It was certainly not my idea or [Dillers] that it would be me, he notes. Ms. Clinton has been a director of Expedia Group since March 2017. Fri, Feb 10 202311:47 AM EST. Before joining Tribune, Michael was Vice President of Labor Relations at NBCUniversal, where he supported network news and sports, owned and operated stations and late-night entertainment programs. Email*. Airbnb had $4.8 billion. Most recently he exercised 1,585 units of EXPE stock worth $172,717 on 15 February 2023. from Boston College and an M.B.A. from St. John Fisher College. From November 2011 to August 2014, Ms. Clinton also worked as a special correspondent for NBC news. Expedia Group Inc. named a new chief executive officer and finance chief and is raising about $3.2 billion to shore up its finances after virus lockdowns decimated the travel industry . One month later, Covid hit the US and Europe and the travel industry came to a standstill. He is on the Board of Directors at Soar Technology Acquisition Corp., Luxury Retreats International, Inc., Expedia Group, Inc., ASPiRE Channel LLC, Cine Latino, Inc., Faith Media Holdings LLC, InterMedia Espanol, Inc., TV Squared Ltd., UP Entertainment LLC and WAPA America, Inc. Mr. Kern was previously employed as a President by Gemini Associates, Inc., a Senior Managing Director & Principal by Alpine Capital LLC, a Director-Supervisory Board by BSH Hausgerte GmbH, a Member-Supervisory Board by BSH Hini aparati doo, a Chief Administrative Officer by Home Shopping Network, Inc., a Managing Partner by InterMedia Partners LP, and a SVP-Corporate Finance & Strategic Development by Whittle Communications LP. After all, Kern says, people dont put pictures of their vacuum cleaner on their refrigerator but of their favourite trip to Italy or Singapore or Thailand., Expedias Peter Kern: Be straight with your people about how you feel, West Virginia Gov. We're also pushing on the brand front. Mr. Jacobson also founded Whisper Advisors, a boutique investment banking/advisory company. Since July 2004, Mr. Dolgen has been a private investor. It was a precarious moment: Calls to the companys call centers had surged 500% as consumers canceled flights and hotel rooms. Short stories and posts about the daily news happenings across the travel industry. The total compensation amounts were included in proxy statements last month. Kern, who had known Diller for about 20 years, was tasked with curing a company that Diller described as bloated and sclerotic. Gieselman is an inspiring, transformational leader with more than 30 years experience, building award winning marketing teams across consumer products, retail, media and tech. Kern never saw himself in the travel industry despite enjoying it as a personal pastime and investing in several smaller travel technology groups in the past. Staff were dealing with a torrent of anguished customer phone calls as they tried to cancel and get refunds for trips. We use While at Williams-Sonoma, Ms. Whalen built deep financial expertise while driving meaningful shareholder returns and success in a global retail environment across multiple brands and channels. Mr. Kern holds a B.S. Prior to joining Expedia Group, Gorin spent 10 years at Microsoft in various sales, distribution and marketing roles. Gorin joined Expedia Group in 2013 as Vice President of Market Management for EMEA and rapidly expanded the hotel network in the region. Michael began his career practicing law in New York and Mexico City within a variety of disciplines, including corporate transactions, civil litigation, intellectual property and employment law. On February 25, 2021, Expedia Group, Inc. (the "Company") entered into an Employment Agreement (the "Employment Agreement") with Peter Kern, the Company's Chief Executive Officer and Executive Vice Chairman, which is effective as of February 25, 2021 and has a term that expires on April 22, 2024 ("Term"), after which Mr. Kern is expected to from New York University. Prior to his tenure as Chief Executive Officer of IAC Travel, Mr. Khosrowshahi served as Executive Vice President and Chief Financial Officer of IAC from January 2002 to January 2005, as IACs Executive Vice President, Operations and Strategic Planning, from July 2000 to January 2002 and as President, USA Networks Interactive, a division of IAC, from 1999 to 2000. Domestic was tremendously strong for us. Mr. Kern is a Managing Partner of InterMedia Partners VII, LP, a private equity firm. By May 2020, the travel company had raised more than $3.2bn in funding with $1.2bn coming from the private equity groups Apollo Global Management and Silver Lake who were temporarily given seats on the board. All rights reserved. Financier Fan Bao, who went missing last month, has been detained by authorities in mainland China in connection with the investigation of a former senior executive at the investment bank he founded. Most people dont just want to go to work, spin the gerbil wheel and go home and get paid. The stock and option awards represent the fair value at the grant date, and wont necessarily be the actual value when the awards vest. All Rights Reserved. Previously, Beverly led in executive roles defining and executing growth strategies at Wells Fargo and American Express. Beverlys career and leadership recognitions include American Bankers 23 People Who Will Matter in Banking in 2023, Black Enterprises Most Powerful Women in Corporate America, CardLinxs Top 20 Women in Digital Commerce, and the Kenneth A. Powell Award for Professional Achievement from the Harvard Business School African-American Alumni Association. Bloomberg: Balance of Power focuses on the politics and policies being shaped by the agenda of President Biden's administration. You may change or cancel your subscription or trial at any time online. On Halloween 2020, Expedia chief executive Peter Kern was wearing moose antlers and reading bedtime stories over Zoom to his employees' children. I think '22 into '23 will be a great period for the industry, and I hope the world gets to travel again. For non-personal use or to order multiple copies, please contact Prior to Alpine Capital, Mr. Kern founded Gemini Associates in 1996 and served as President from its inception through its merger with Alpine Capital in 2001. No matter how smart you are you cant scale IQ points. Kern says it was not about [taking] costs out because costs are evil and we want to make more money but arranging the group to be more efficient, adding if we do that the business will take care of itself. We're trying to play offense into what we think will be a recovery. Tags: airbnb, booking holdings, ceo pay, expedia, expedia group, news blog, tripadvisor. Mr. von Furstenberg currently serves as Chief Investment Officer of Ranger Global Advisors, LLC (Ranger), a family office focused on value-based investing, which he founded in June 2011. or So, kudos to science and innovation and ingenuity. The bedtime stories were his wifes idea, he admits on our call. Stewart & Co. Ltd., a Bermuda based asset management firm, until the company was acquired in December 2013. There are 6 older and 12 younger executives at Expedia Inc. Beyond the office, Beverly is dedicated to giving back to her community, serving on the boards of Expedia Group, Accion, Sword Health, and the Harvard Business School African-American Alumni Association. Its most akin to how I see my challenge at Expedia. Peter Kern of Expedia Group 2,218 views Jul 17, 2020 21 Dislike Share Save PhocusWire 1.42K subscribers #coronavirus The next guest on the New Reality With. From July 2004 until April 2010, Mr. Dolgen was a Senior Advisor to Viacom, Inc., a worldwide entertainment and media company, where he provided advisory services to the chief executive officer on an as-requested basis. ExpediaCEO Peter KernQ420222023ExpediaAppExpedia US He studied computer science at Stanford University from September 2016 to March 2017. Premium access for businesses and educational institutions. We believe in corporate travel, which is why we kept an equity stake in the company, and we will power Amex GBT and other corporate travel players. In addition, he makes $1,924,500 as Chief Executive Officer and Vice Chairman of the Board at Expedia Inc. Peter has made over 40 trades of the Expedia Inc stock since 2006, according to the Form 4 filled with the SEC. Mr. Dzielak is currently a member of the Supervisory Board of trivago, N.V. Michael Davis Velasco is the Chief People, Inclusion and Diversity Officer at Expedia Group. As of 15 February 2023 he still owns at least 1,585 units of Expedia Inc stock. Simply log into Settings & Account and select "Cancel" on the right-hand side. From August 2010 until 2017, Ms. Banerjee served in various roles at a predecessor of JBGS (JBG), including as a Principal in the Investments Group and a member of the Management Committee. [We sold Egencia to American Express Global Business Travel] not because we thought corporate travel would lag. Since 2001, he has acted as Chief Investment Officer of Arrow Investments, Inc., the private investment office that serves his family. He has invested in a number of private companies, including Reddit, Inc., which operates a social sharing and aggregation website, and Helion Energy, Inc. and Oklo, Inc., which are both developing clean energy solutions. Company is here to bring the world within reach for customers and partners around the globe. Mr. Jacobson is a member of the Board of Directors of Charter Communications, Inc., Tribune Media Company, Oaktree Specialty Lending Corporation and Oaktree Strategic Income Corporation. Mr. Khosrowshahi served as the Chief Executive Officer of IAC Travel, a division of IAC, from January 2005 to the IAC/Expedia Group Spin-Off date. We're treating [Expedia Group] as a house of brands as opposed to discrete businesses that basically compete with one another. He also served on the board at Televicentro of Puerto Rico LLC and Thomas Nelson, Inc. All other trademarks are property of their respective owners. commentary and analysis you can trust. (Podcast). Check if your Expedia Group Only a quarter of the world's population is fully vaccinated against COVID 19. USPS, under pressure on costs, contracts trucking companies at cut rates and pushes them to meet aggressive delivery schedules. Mr. Kern owns over 1,585 units of Expedia Inc stock worth over $172,717 and over the last 18 years he sold EXPE stock worth over $0. Prior to joining InterMedia, Mr. Kern was Senior Managing Director and Principal of Alpine Capital LLC. It also doesn't create waste and may help fight the climate crisis. Expedias then-management blamed the encroachment of Google into travel booking but its chair, the media mogul Barry Diller, said the business had become all play and no work. Ms. Clinton also teaches at the Columbia University Mailman School of Public Health. Mr. Kern served on the board of directors of Tribune Media Company from October 2016 through the completion of Tribune Medias merger with Nextstar Media Group, Inc. in September 2019, and served as Tribune Medias Chief Executive Officer from March 2017 through September 2019. On top of that, environmental concerns and remote working have caused companies to cut travel budgets. He said Expedia Group would make tech improvements to help Vrbo to take . Despite assuming leadership of one of the world's largest travel brands in the midst of a global pandemic, Expedia Group CEO Peter Kern says there wasn't much in 2020 that took him by surprise - except "I didn't have to wear pants to work." Speaking at his first Phocuswright Conference since replacing former CEO Mark Okerstrom in April, Kern says he sees the events of this year as . Oceania further cements itself as a cruise line for foodies, bestowing the honor of Vista godmother on the celebrity chef and Tourism officials and suppliers say that the impact of the crisis on vacationing visitors has been minimal, if not nonexistent. Its shares plummeted more than 27 per cent as a result. Mr. Peter M. Kern is a President & Chief Executive Officer at Tribune Media Co., a Chairman-Supervisory Board at trivago NV, a Chairman at Gato Investments LP, a Chairman at Hemisphere Media Group, Inc., a Vice Chairman & Chief Executive Officer at Expedia Group, Inc., a Co-Founder & Managing Partner at InterMedia Advisors LLC and a Managing Partner at InterMedia Partners VII LP. One another were dealing with a torrent of anguished customer phone Calls as they tried to cancel and get.! Expedia, Expedia Inc visiting the Settings & Account and select `` ''! Your inbox kern is a Managing Partner of InterMedia Partners VII, LP, a boutique banking/advisory! 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