CFO Mark Okerstrom to succeed Dara Khosrowshahi as Expedia's new CEO
Mark Okerstrom, currently Chief Financial Officer and Executive Vice President of Operations, is announced to succeed Dara Khosrowshahi as President and CEO of Expedia.
Expedia announced on August 30, 2017 that its Board of Directors has approved the appointment of Mark Okerstrom, currently Chief Financial Officer and Executive Vice President of Operations, to succeed Dara Khosrowshahi as President and CEO of Expedia. Mr. Okerstrom will also join Expedia’s Board of Directors, and Mr. Khosrowshahi will continue to be a member of Expedia’s Board of Directors.
Expedia Chairman Barry Diller said, “We all wish Dara Khosrowshahi the best good fortune as Uber’s CEO. I think we are both proud that he leaves behind such a talented organization. Our Leadership Team, over 12 strong, is as substantial a group of executives as I’ve ever worked with. Prior to Dara leaving, Mark Okerstrom was his principal partner in operating the Company - and therefore this transition is as natural as water flowing down a snow-packed mountain. There was no other candidate that the Board considered. Under Mark’s leadership, surrounded by his excellent and tenured executive team, I’m confident we’ll continue to grow and prosper.”
Dara Khosrowshahi said, “Mark has been by my side through every major milestone in this Company for much of the last 11 years and I’m passing these reins into the best hands. He is a tireless, strategic, and steadfast leader who has pushed me to be my best self while having Expedia, Inc.’s best interests front and center at every step. I am incredibly excited to watch Expedia continue to flourish with his leadership.”
Mark D. Okerstrom
Mark D. Okerstrom has served as Expedia’s Executive Vice President, Operations, and Chief Financial Officer since September 2011, previously serving as its Secretary from October 2011 until April 2012. In his role as CFO, he held responsibility for all aspects of finance, including planning & analysis, accounting, tax, treasury, internal audit, procurement, real estate and investor relations, as well as corporate strategy and M&A for Expedia, Inc. Mr. Okerstrom’s role was expanded in 2014, adding responsibility for the Company’s eCommerce Platform Group which includes centralized technology, payments, risk, and global customer operations.
Mr. Okerstrom served as Senior Director, Corporate Development and Strategy, Vice President of Corporate Development and Strategy, and Senior Vice President of Corporate Development from 2006, when he joined, to 2011.
Prior to joining Expedia, Mr. Okerstrom was a consultant with Bain & Company in Boston and San Francisco, and worked with UBS Investment Bank in London. Prior to that, he practiced as an attorney with the global law firm of Freshfields Bruckhaus Deringer in London.
Mr. Okerstrom holds an MBA degree from Harvard Business School and a law degree from the University of British Columbia.
In his mail to the employees, he wrote:“…Yet, we face competitive pressures as fierce as ever and see so much opportunity for improvement and growth ahead. Go Global, Go Faster, and Simply Do Better for Customers, Partners, Employees and Shareholders... In short, I would assume largely a continuation of the strategic course we have been on. I have been intimately involved in shaping the strategic and financial direction of this company for the past 11 years, so I actually do not have a long list of “Things to do completely differently when Dara leaves” burning a hole in my pocket. What I do have is a passion for listening, for learning, and for organizational and self-improvement. I have a deep curiosity for understanding how we can continue to be a better tech company and most importantly how we can more aggressively innovate to provide even more valuable products and services to our customers and partners alike.”