In February this year, Expedia said it had achieved record fourth quarter adjusted earnings despite ongoing uncertainty in the travel industry. In February 2020, Kern oversaw 3,000 redundancies about 12 per cent of Expedias headcount and streamlined the sprawling group, which had accumulated an array of brands including Trivago and Hotels.com. Kerns strategy: fewer people organised around clearer goals. But I wouldn't say, universally, we're as strong as we want. Through his foundation Mr. Diller has supported projects for Roundabout Theatre Company, Signature Theatre, The Public Theater, and Motion Picture & Television Fund, and creating Little Island, a park and performance center in the Hudson River. . His salary was around. Peter Kern is currently Vice Chairman of the Board and Chief Executive Officer at Expedia Group - View - Expedia Group org chart I think there are still a fair number of antiquated rules and processes that just make it harder than it needs to be. Mr. Kern has spent decades in leadership roles in public and private settings. Most recently, Michael served as Senior Vice President of Human Resources and Chief Labor & Employment Counsel at Tribune Media Company, where he led all Human Resources functions including benefits, compensation, talent acquisition, HRIS, learning & development, as well as diversity and inclusion efforts. and other data for a number of reasons, such as keeping FT Sites reliable and secure, 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 Mr. Dubugras has served as the co-Chief Executive Officer of Brex Inc., a privately-held financial services company, since co-founding Brex in 2017. PO Box 760, Sherman, CT 06784 USA | Telephone: +1 860 350-4084, Greyhound and FlixBus combine technology to enhance traveler experience, In The Big Chair - Caesar Indra of Traveloka, VisitBritain seeks more bookings with 10 million campaign, JetBlue adds climate platform powered by Chooose, BinBin swoops up GO Sharing in micromobility consolidation, Expedia, Microsoft and travel experts on ChatGPT. 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. Theres been a big underspend on travel and we and many people believe that will reverse itself. Expedia CEO Peter Kern. We had this moment where the U.S. opened, and now it's a little clumsy again. Peter M. Kern serves as Chief Executive Officer, Vice Chairman of the Board of the Company. Vice Chairman and Chief Executive Officer, Expedia Group, Inc. Chief Executive Officer, Uber Technologies, Inc. Deputy General Counsel, SoftBank Group International. Gato Investments LP, managed by InterMedia Advisors, LLC completed the acquisition of remaining stake in Hemisphere Media Group, Inc. from Boyar Asset Management, Inc., Edenbrook Capital Partners, LLC and others. I believe cities will come back, of course, and will be beneficiaries of international travel again. Since joining the Company as Assistant General Counsel in April 2006 and through his service as Vice President and Associate General Counsel between February 2007 and October 2011, Mr. Dzielak held primary responsibility for the worldwide litigation portfolio of the Company and its brands. Mr. von Furstenberg also serves as a partner and Co-Chairman of the Board of Diane von Furstenberg Studio, LLC. Kern is in Las Vegas this week to publicly launch a fresh strategy: to focus more on offering its technology and marketing heft to other travel companies than being an online travel booking site with multiple brands. https://www.wsj.com/articles/travel-boom-coming-expedia-ceo-says-hotels-will-come-screaming-back-11618664400. South east Mexico has experienced an unprecedented growth over the last 50 years, Cncun recently celebrated 50 years as a city and has received more visitors 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. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. We support credit card, debit card and PayPal payments. Mr. Dolgen began his career in the entertainment industry in 1976 and, until joining the Viacom Entertainment Group, served in a variety of executive positions at Columbia Pictures Industries, Inc., Twentieth Century Fox and Fox, Inc., and Sony Pictures Entertainment. Company is here to bring the world within reach for customers and partners around the globe. Mr. Kern holds a B.S. The bedtime stories were his wifes idea, he admits on our call. 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. Expedia prepares for post-pandemic travel surge. Airbnb had $4.8 billion. As Expedia Groups EVP and CFO, Ms. Whalen leads the Companys global finance organization and financial activities including accounting, corporate development, financial reporting and analysis, internal audit, investor relations, real estate, tax, and treasury. Recognized as a transformative technology executive,Rathioversaw Verizon Medias global technology strategy, leading the companys continued innovations in 5G while also managing the platform technology and infrastructure. Barry Diller is the Chairman and Senior Executive of IAC and the Chairman and Senior Executive of Expedia Group. Peter is a Managing Partner of InterMedia Partners VII, LP, a private equity firm. Kerns total compensation in 2021 compared with $53.9 million for Booking Holdings Glenn Fogel, $7.67 million for Tripadvisors Steve Kaufer, and $132,000 for Airbnbs Brian Chesky. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. Important questions for industry leaders to address in troubled times for one of the biggest business sectors in the world. While at American Express,Rathiwas named Top Woman in Cloud Innovation in 2014, and Most Influential Women in Payments in 2015. Where are the biggest pressure points in their businesses and the wider industry that might still emerge? Previously, Beverly led in executive roles defining and executing growth strategies at Wells Fargo and American Express. Prior to joining Fox, Inc., Mr. Diller served for ten years as Chairman of the Board and Chief Executive Officer of Paramount Pictures Corporation. feel like they are making a difference, he explains. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. Prior to Brex, Mr. Dubrugras had co-founded and served as Chief Executive Officer ofPagar.me, an online payments company that was acquired in September 2016. Mr. Kern has been a director of Expedia Group since completion of the IAC/Expedia Group Spin-Off and has served as Vice Chairman of Expedia Group since June 2018. In another, he reflected on a mountain trek on the anniversary of the September 11 terror attacks. Expedia leverages its platform and technology capabilities across an extensive portfolio of businesses and brands to orchestrate the movement of people and the delivery of travel experiences on both a local and global basis. In addition to the philanthropic work accomplished through his position as a director of The Diller-von Furstenberg Family Foundation, Mr. von Furstenberg also serves on the Board of Directors of Friends of the High Line. But February 2020 was not an auspicious time to start a significant overhaul of a global travel company. But Europe will be the next-best market for us after the U.S., and after that, Latin America, then Asia-Pacific. Prior to assuming this role, Ms. Clinton served as a member of the Board of Directors of the Clinton Foundation from September 2011. When it comes to the ratio of the CEOs salary to median employee compensation, excluding the CEOs compensation, at each company, Expedias was 2,897 to 1; Bookings was 931 to 1; Tripadvisors was 76 to 1; and Airbnbs was .65 to 1. It was a precarious moment: Calls to the company's call. Expedia Group helps knock down the barriers to travel, making it easier, more enjoyable, more attainable and more accessible. Link Copied! Rathialso currently sits on the board of directors for PagerDuty. Prior to Expedia Group, Ms. Whalen served as EVP and CFO at Williams-Sonoma, Inc. for more than ten years, having progressed through positions of increasing responsibility in Williams-Sonomas finance organization since joining in 2001. Expedia Group plans to do at least three things to grow its Vrbo business in 2023. Stewart & Co. Ltd., a Bermuda based asset management firm, until the company was acquired in December 2013. To weather the downturn, it scrambled to .css-1h1us5y-StyledLink{color:var(--interactive-text-color);-webkit-text-decoration:underline;text-decoration:underline;}.css-1h1us5y-StyledLink:hover{-webkit-text-decoration:none;text-decoration:none;}raise about $4 billion in capital last spring. Its shares plummeted more than 27 per cent as a result. He currently serves on the Board of Directors of all three companies and as Chairman of Helion and Oklo. degree from the University of Pennsylvania Carey Law School and a B.B.A (Bachelor of Business Administration) degree from the University of Miami. The next guest on the New Reality With. I think we'll be coming out of this meaningfully improved as an industry, starting next summer. Ms. Clinton has also served as a member of the Board of Directors of the Clinton Health Access Initiative since September 2011. His salary was around $850,000. Expedia Group CEO Peter Kern. All rights reserved. What was the first leadership lesson you learnt? Gorin joined Expedia Group in 2013 as Vice President of Market Management for EMEA and rapidly expanded the hotel network in the region. personalising content and ads, providing social media features and to He received his undergraduate degree from The Wharton School of the University of Pennsylvania. He also served as Chairman of the Board and Chief Executive Officer of QVC, Inc. from December 1992 through December 1994 and as the Chairman of the Board and Chief Executive Officer of Fox, Inc. from 1984 to 1992. Over the last 18 months, there's been a lot of putting out fires, dealing with new fires, etc. Mr. Altman has also been the General Partner of Hydrazine Capital, an early-stage venture capital firm, since April 2012. At the moment, I admire Microsofts CEO Satya Nadella and his work reviving Microsoft from sleeping giant to moving it into the cloud, and reimagining the company. So, kudos to science and innovation and ingenuity. 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. On Halloween 2020, Expedia chief executive Peter Kern was wearing moose antlers and reading bedtime stories over Zoom to his employees' children. I think the summer of '22 will probably be the biggest travel summer of all time, even with some countries constrained. New Reality With is brought to you by Salesforce. 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. Gieselman is an inspiring, transformational leader with more than 30 years experience, building award winning marketing teams across consumer products, retail, media and tech. Im a big fan of old world Italian and French wines. Access exclusive travel research, data insights, and surveys. Domestic was tremendously strong for us. She currently serves as an advisor to LiveSafe, Inc. Ms. Clinton holds a B.A. It was certainly not my idea or [Dillers] that it would be me, he notes. On Halloween 2020, Expedia chief executive Peter Kern was wearing moose antlers and reading bedtime stories over Zoom to his employees' children. Mr. Kern has served on the Board of Directors of Tribune Media Company since October 2016, where he currently also serves as Chief Executive Officer, as Chairman of the Board of Directors of Hemisphere Media Group, Inc., a publicly-traded Spanish-language media company, since April 2013, and since 2016, as a member of Supervisory Board of trivago N.V., a majority-owned subsidiary of Expedia Group. We're treating [Expedia Group] as a house of brands as opposed to discrete businesses that basically compete with one another. Transcript : Expedia Group, Inc., Q2 2022 Earnings Call, Aug 04, 2022. Mr. Kern is a Managing Partner of InterMedia Partners VII, LP, a private equity firm. from Stanford, an MPH from Columbias Mailman School of Public Health and both an MPhil and a Doctorate in International Relations from Oxford University. Discover Peter Kern's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. 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. Short of finding someone else for the top job, Kern was persuaded to take over full time. Previously,Rathiwas Senior Vice President and CTO for Gap, Inc. where she developed an end-to-end technology strategy for Gap Inc.s broad portfolio of brands. Important questions for industry leaders to address in troubled times for one of the biggest business sectors in the world. Prior to joining InterMedia, Mr. Kern was Senior Managing Director and Principal of Alpine Capital LLC. degree from the Wharton School at the University of Pennsylvania. No one wants to. New York City got totally killed, but Hawaii was awesome, Florida was awesome. Mr. von Furstenberg has been a director of Expedia Group since December 2015. According to Peter Kern, the vice chairman and CEO, his . Mr. Kern also currently serves as Chairman of the board of directors of Hemisphere Media Group, Inc., a publicly-traded Spanish- language media company and as Chairman of the Supervisory Board of trivago N.V., a majority-owned subsidiary of Expedia Group, as well as on the boards of several private companies. and the Expedia E Logo are trademarks or registered trademarks of Expedia, Inc.
We're trying to play offense into what we think will be a recovery. 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 her appointment as Chief Financial Officer, she had served as an Executive Vice President of JBGS since its formation in 2017 and its Head of Capital Markets since 2018. Chief Financial Officer, Expedia Group, Inc. Beverlys core areas of focus include strategy development and sustainable growth, overseeing daily operational activities, and fostering BECUs culture of promoting the financial well-being of its members and communities. What will ChatGPT mean for the travel industry? Prior to founding Gemini Associates, Mr. Kern was at the Home Shopping Network and Whittle Communications. There are 6 older and 12 younger executives at Expedia Inc. Rathi holds a Masters in Computer Engineering from Santa Clara University, California. All Rights Reserved. From October 1984 to April 1992, Mr. Diller served as Chairman and Chief Executive Officer of Fox, Inc. and was responsible for the creation of Fox Broadcasting Company in addition to Fox's motion picture operations. Mr. Kern also serves on the boards of several private companies. 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. 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. Ms. Whalen also serves on Expedia Groups Board of Directors, a position she has held since 2019. Bloomberg: Balance of Power focuses on the politics and policiesbeing shaped by the agenda of President Biden's administration. Ms. Menendez Cambo holds a J.D. 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. Expedia Group Vice Chairman and CEO Peter Kerns 2021 total compensation was $296 million. It was a precarious moment: Calls to the companys call centers had surged 500% as consumers canceled flights and hotel rooms. She has also served as chairperson of the Card Policy Council of the American Bankers Association and board chair of the Council of Urban Professionals. from Cornell University and a J.D. Business travel will come back. . "I'm famously good at putting babies to sleep. USPS, under pressure on costs, contracts trucking companies at cut rates and pushes them to meet aggressive delivery schedules. She most recently served as CTO for Verizon Media. One of the companys new values is Choose Fearlessly. . Expedia, Expedia Group,
We're less worried about playing defense, which, you know, six months ago, nine months ago, I couldn't say. Solugen Bio has built a chemical plant that produces all manner of chemical-based products using bio-based feedstock instead of fossil fuels. Expedia burned through cash in issuing refunds. Expedia Group in 2021 awarded vice chairman and CEO Peter Kern a $296 million compensation package, outpacing all his peers by an order of magnitude, and reportedly making him the third-highest . U.S. government bonds prices have been hit by inflation, fears of persistent high rates. We've made tremendous strides technologically that not only help us take care of more customers more quickly but which have freed up capital to invest in people to take care of customers. from New York University. Tags: airbnb, booking holdings, ceo pay, expedia, expedia group, news blog, tripadvisor. He studied computer science at Stanford University from September 2016 to March 2017. 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