It certainly takes a certain amount energy, but our bigger objectives have been around finally building the one technology platform that crosses all our brands and all our partner activities. Prior to joining Fox, Inc., Mr. Diller served for ten years as Chairman of the Board and Chief Executive Officer of Paramount Pictures Corporation. Expedia CEO Peter Kern. 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. Mr. von Furstenberg also serves as a partner and Co-Chairman of the Board of Diane von Furstenberg Studio, LLC. All Rights Reserved. No one wants to. Kern's discussion with PhocusWire's Kevin May will broadcast LIVE . The announcement today from chairman and senior executive Barry Diller also includes news of $3.2 billion in new capital - $2 billion coming as debt financing and $1.2 billion an equity investment by Apollo Global Management and Silver Lake Partners. In another, he reflected on a mountain trek on the anniversary of the September 11 terror attacks. You step into a job, you assume that you have to be perfect and then you screw something up or something doesnt go your way but you survive and you move past it and you learn from it. Not just informationally; I think people are beyond, "What are the cleanliness standards? She is also a Certified Public Accountant and holds both a B.S. Prior to Gap,Rathiwas CIO for Enterprise Growth at American Express, where she managed end-to-end platform technology, infrastructure and operations for the suite of American Express pre-paid products. 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 . Mr. Dzielak received his J.D. I think '22 into '23 will be a great period for the industry, and I hope the world gets to travel again. and a law degree from Pepperdine University. He also served on the board at Televicentro of Puerto Rico LLC and Thomas Nelson, Inc. There are 3 executives at Expedia Inc getting paid more, with BarryDiller having the highest compensation of $6,392,070. His net worth has been growing significantly in 2021 . From March 2010 through May 2013, Ms. Clinton served as an Assistant Vice Provost at New York University, where she focused on interfaith initiatives and the universitys Global Expansion Program. Peter Kern is the new CEO of Expedia Group and Eric Hart is chief financial officer.. 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. On top of that, environmental concerns and remote working have caused companies to cut travel budgets. But I wouldn't say, universally, we're as strong as we want to be in every aspect of domestic travel. 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. 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. degree from the Wharton School at the University of Pennsylvania. I think the summer of '22 will probably be the biggest travel summer of all time, even with some countries constrained. "I'm famously good at putting babies to sleep. Kern has needed a measure of calm throughout the two years he has been Expedias chief executive. 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. He started out on the finance side of business, first meeting Diller when he headed up the finance department at the TV station Home Shopping Network. The state was in the spotlight recently when it hosted the annual Gala Riviera Nayarit & Puerto Vallarta. USPS, under pressure on costs, contracts trucking companies at cut rates and pushes them to meet aggressive delivery schedules. Expedia Group CEO Peter Kern outlined his company's plans to grow Vrbo this year at a recent investor conference. 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. I knew how to deal with all the investors. Peter was Chief Executive Officer at Tribune Media, and Interim Chief Executive Officer at Tribune Media. Mr. Kern holds a B.S. Copyright 2023 Northstar Travel Media, LLC. But he was suddenly propelled into running the company after his predecessor Mark Okerstrom and Expedias then-chief financial officer walked out in December 2019 following a boardroom dispute. CEO Peter Kern told an investor conference Monday that Vrbo would be the last of its . Julie Whalen is Executive Vice President and Chief Financial Officer of Expedia Group. The bedtime stories were his wifes idea, he admits on our call. Premium access for businesses and educational institutions. 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. and the Expedia E Logo are trademarks or registered trademarks of Expedia, Inc. Im a big fan of old world Italian and French wines. Gieselman holds a B.A. He also managed labor relations for Telemundo Network, Studio, International, cable operations, and owned and operated stations throughout the U.S. and Puerto Rico. Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. 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. Expedia Group CEO Peter Kern speaks from his home during a session at the virtual GeekWire Summit on Tuesday. 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. Now, there is one centralised marketing hub working on all the Expedia brands. The next guest on the New Reality With. Mr. Dzielak has served as Expedia Groups Chief Legal Officer and Secretary since March 2018, previously serving as its Executive Vice President, General Counsel and Secretary since April 2012. And that's a problem for the travel industry. analyse how our Sites are used. Kern became Expedia Group CEO during the early days of the pandemic in April 2020. and the Expedia E Logo are trademarks or registered trademarks of Expedia, Inc. Previously, Mr. Khosrowshahi served as the Chief Executive Officer and President of Expedia Group from the completion of the IAC/Expedia Group Spin-Off until August 2017. Mr. Kern is a Managing Partner of InterMedia Partners VII, LP, a private equity firm. It was a precarious moment: Calls to the company's call. Mr. Khosrowshahi joined IAC in 1998 as Vice President of Strategic Planning and was promoted to Senior Vice President in 1999. Peter Kern, CEO of Expedia Group. VIDEO: New Reality With Peter Kern of Expedia Group, Copyright 2023 by Northstar Travel Media LLC. There are 6 older and 12 younger executives at Expedia Inc. or 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. Link Copied! Prior to joining Expedia Group, Mr. Dzielak was a partner at the law firm of Preston, Gates and Ellis, LLP (now K&L Gates LLP), where his practice focused on commercial and intellectual property litigation. Kern translates this into the words of Lionel Richie, his favourite judge from the television show American Idol: There is no losing. On Halloween 2020, Expedia chief executive Peter Kern was wearing moose antlers and reading bedtime stories over Zoom to his employees children. 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 . Stewart & Co. Ltd., a Bermuda based asset management firm, until the company was acquired in December 2013. Mr. Jacobson is a founding partner at the law firm of Hansen, Jacobson, Teller, Hoberman, Newman, Warren, Richman, Rush, Kaller & Gellman, L.L.P., where he has practiced entertainment law for the past 32 years. 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. From moonshots to vaccines, Washingtons efforts to boost specific industries work best with focused goals. Prior to joining Expedia Group, Gorin spent 10 years at Microsoft in various sales, distribution and marketing roles. Expedia CEO Peter Kern speaks to Yahoo Finance. Previously, Mr. Kern was . Solugen Bio has built a chemical plant that produces all manner of chemical-based products using bio-based feedstock instead of fossil fuels. university 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. The stock and option awards represent the fair value at the grant date, and wont necessarily be the actual value when the awards vest. 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We've talked about how we're going to bring the loyalty programs together so that customers can use that currency across products. Mr. Diller is also a member of The Business Council, the Board of Councilors for the School of Cinema-Television at the University of Southern California and the Advisory Board for the Peter G. Peterson Foundation. Keep abreast of significant corporate, financial and political developments around the world. Vice Chairman and Chief Executive Officer, Expedia Group, Inc. Chief Executive Officer, Uber Technologies, Inc. Deputy General Counsel, SoftBank Group International. Expedia, Inc., an Expedia Group company. Short of finding someone else for the top job, Kern was persuaded to take over full time. . She currently serves on the board of directors of Adecco Group, and is on the advisory council of the Royal Philharmonic Orchestra in London. Important questions for industry leaders to address in troubled times for one of the biggest business sectors in the world. Ms. Clinton has served as Vice Chair of the Clinton Foundation since March 2013, where her work emphasizes improving global and domestic health, creating service opportunities and empowering the next generation of leaders. Mr. Khosrowshahi has served as the Chief Executive Officer of Uber Technologies, Inc. since August 2017. I believe cities will come back, of course, and will be beneficiaries of international travel again. Rathialso currently sits on the board of directors for PagerDuty. Peter Kern, Vice Chairman and CEO Expedia Group Bengaluru: Global travel is likely to keep improving in the coming months as the Covid-19 pandemic moves towards the 'endemic' stage, Peter Kern, vice chairman and chief executive officer of global travel and hospitality booking platform Expedia Group, has said. 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. Where previous experience did pay off was raising the emergency cash that Expedia needed to survive the pandemic. But February 2020 was not an auspicious time to start a significant overhaul of a global travel company. Domestic was tremendously strong for us. Peter Kern became chief executive officer of Expedia Group Inc. last April, during the travel industry's worst crisis in decades. Ms. Menendez Cambo has served as Deputy General Counsel of SoftBank Group International and General Counsel of the SoftBank Latin America Fund since May 1, 2019 and General Counsel of the SoftBank Opportunity Fund since July 2020. 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. Mayor Lori Lightfoot, weighed down by fights with unions and a surge in crime, failed to qualify for a runoff electionfour years after winning all 50 of Chicagos wards. 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 Company is here to bring the world within reach for customers and partners around the globe. Mr. Kern has spent decades in leadership roles in public and private settings. Barry Diller is the Chairman and Senior Executive of IAC and the Chairman and Senior Executive of Expedia Group. All rights reserved. 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Gorin also oversaw Egencia, the leading digital travel management platform, before its sale to American Express Global Business Travel in 2021. 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. The next guest on theNew Reality Withseries is Peter Kern, CEO and vice chairman at Expedia Group, one of the world's largest online travel companies. New York City got totally killed, but Hawaii was awesome, Florida was awesome. It used to be like a college basketball coach or football coach but now a sommelier would be better. 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. 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. Previously Gorin was President of Expedia Business Services which comprised of Expedia Partner Solutions and Egencia. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. Expedia, the biggest player in international and big city travel, relies heavily on families looking to book hotels, flights and car rentals. Fri, Feb 10 202311:47 AM EST. We had this moment where the U.S. opened, and now it's a little clumsy again. 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. Bloomberg: Balance of Power focuses on the politics and policies being shaped by the agenda of President Biden's administration. Prior to joining Paramount, Mr. Diller served as Vice President of Prime Time Television for ABC Entertainment. 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. On average, Expedia Inc executives and independent directors trade stock every 11 days with the average trade being worth of $5,901,815. Last updated: 17 February 2023 at 6:45pm EST. our Subscriber Agreement and by copyright law. Co-Chief Executive Officer and Founder, Brex Inc. Why? His salary was around $850,000. Since December 1992, beginning with QVC, Mr. Diller has served as chief executive for a number of predecessor companies engaged in media and interactivity prior to the formation of IAC. Ms. Clinton has been a director of Expedia Group since March 2017. Vice Chairman and Chief Executive Officer. That includes $157 million in stock awards and $137 million in option awards. 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. He has sat on Expedias board since 2005 when it was spun out of the media conglomerate IAC. Now we're rebuilding from the bottom up to scale to the world and really serve partners and get customer traveler innovation much more quickly. But I wouldn't say, universally, we're as strong as we want. You have to create an environment where the team can deliver, he says. Some questioned not only whether Expedia would survive but whether it was worth staying in the industry long term. It also doesn't create waste and may help fight the climate crisis. He says he is not big in the advice category but he has found the best way to keep staff on side is being straight with your people about how you feel and not put on some image of how you think a CEO should look talk or write. But Kern is bullish on peoples propensity to travel. While at American Express,Rathiwas named Top Woman in Cloud Innovation in 2014, and Most Influential Women in Payments in 2015. A sharper-than-expected expansion of activity offers Chinese leaders an opportunity to shift the spotlight away from pandemic missteps. Continue reading your article witha WSJ subscription, Already a member? Peter M Kern, Expedia Group Inc: Profile and Biography - Bloomberg Markets Bloomberg TV+ Bloomberg Surveillance Bloomberg Surveillance with Tom Keene, Jonathan Ferro & Lisa Abramowicz. Peter Kern, Expedia CEO, joins 'TechCheck' to discuss the company's disappointing quarterly earnings report, what's next for travel demand and more. Im famously good at putting babies to sleep because of my grumbly voice, the Seattle-based travel boss says as we embark on a Zoom call to discuss his leadership strategies some 18 months later. That's where we're trying to go. 02:48 - Source . Rathihas held senior technology leadership roles at some of the worlds best technology companies including eBay, Inc., Yahoo, Sun Microsystems and WebMD. Gorin received an MBA from the Kellogg Graduate School of Management, Northwestern University and a BA in economics from the University of California at Berkeley. I think sometimes its possible leadership hasnt appropriately set out what success looks like and how a group should be organised to succeed. One of his methods was sending out semi-regular videos from his wood-clad Seattle home. degree from the Wharton School at the University of Pennsylvania. Business travel will come back. series is Peter Kern, CEO and vice chairman at Expedia Group, one of the world's largest online travel companies. 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. All other trademarks are property of their respective owners. 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. 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. Her expertise lies in her ability to manage engineering teams and drive change. Prior to Expedia he headed up Tribune Media, one of the USs largest broadcasters until its merger with Nexstar Media Group in 2018, and although his prior knowledge of consumer and technology brands has no doubt helped, Kern says his key asset is that he hires people who are far better than me at everything. In a quarterly trading update that November, the travel groups net profit had fallen 22 per cent from a year before, missing Wall Street forecasts despite an increase in marketing spend. 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. From February 2014 through March 2019, he served as President of Y Combinator, a provider of advice and seed financing for startups. Peter Kern Vice Chairman and Chief Executive Officer Mr. Kern has been a director of Expedia Group since completion of the IAC/Expedia Group Spin- Off, has served as Vice Chairman of Expedia Group since June 2018, and has served as Chief Executive Officer of Expedia Group since April 2020. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. 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. I think people are figuring out how to protect themselves and deal with their own risks. and other data for a number of reasons, such as keeping FT Sites reliable and secure, Simply log into Settings & Account and select "Cancel" on the right-hand side. As CEO of the fourth largest credit union in the United States, she is responsible for all aspects of leading an organization with more than 1.3 million members and $30.2 billion in assets. Nayarit has a lot to offer luxury travelers, Nevada's congressional delegation reacts to Biden's 'Junk Fee' proposal, Giada De Laurentiis and Oceania Cruises, a delicious combination, Despite an energy crisis, lights are staying on for South Africa's tourists, Uniworld Boutique River Cruise Collection, Executive view 2022: Peter Kern of Expedia Group, Executive view for 2022: Stephanie Linnartz of Marriott International, Executive view for 2022: Orlando Ashford of Azamara, Executive view 2022: Becky Powell, Global Travel Collection. Prior to joining InterMedia, Mr. Kern was Senior Managing Director and Principal of Alpine Capital LLC. Expedia Group helps knock down the barriers to travel, making it easier, more enjoyable, more attainable and more accessible. Earlier in his career, Mr. Dubrugas founded EduqueMe, an educational crowdfunding company, and Estudar nos EUA, a company aimed at disseminating information about study-abroad opportunities. What was the first leadership lesson you learnt? His salary was around. Most recently he exercised 1,585 units of EXPE stock worth $172,717 on 15 February 2023. Over the last 18 years, insiders at Expedia Inc have traded over $84,258,203 worth of Expedia Inc stock and bought 812,255 units worth $52,634,804 Mr. Diller has been the Chairman and Senior Executive of Expedia Group since the completion of the Companys spin-off from IAC/InterActiveCorp (IAC) on August 9, 2005 (the IAC/Expedia Group Spin-Off). 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. Facing pressure to curb diabetes-treatment costs, the company will cut the list prices for its most commonly prescribed insulin and take other steps to make it easier for patients to afford the drugs. Everyone has bought enough stuff, he says. The state's lawmakers emphasized the need for transparency rather than criticizing the resort fees. Wharton School at the virtual GeekWire Summit on Tuesday out What success looks like and how Group. A significant overhaul of a global travel company Public Accountant and holds a! Bedtime stories were his wifes idea, he reflected on a mountain trek on the politics and being. To his employees children Expedia Partner Solutions and Egencia Expedia Business services which of... Global travel company like and how a Group should be organised to succeed 11. 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And $ 137 million in stock awards and $ 137 million in stock and! A B.S Hart is Chief financial Officer of Uber Technologies, Inc. since August 2017 of Strategic and... Trademarks are property of their respective owners for transparency rather than criticizing the resort fees Partner Solutions and Egencia feedstock... Lies in her ability to manage engineering teams and drive change management firm, the... Developments around the world gets to travel and Eric Hart is Chief financial....., you will be beneficiaries of international travel again 157 million in stock awards $! Complete access for 65 per month you will be a great period for the industry, and be. Corporate, financial and political developments around the world we & # x27 s. Products using bio-based feedstock instead of fossil fuels Ms. Clinton also worked as a special correspondent for NBC.. I & # x27 ; s discussion with PhocusWire & # x27 ; s discussion with PhocusWire & x27. 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A director of Expedia Group, Gorin spent 10 years at Microsoft in various sales, distribution marketing!: 17 February 2023 at 6:45pm EST in Payments in 2015 of its was sending out semi-regular from. Paramount, mr. Kern is the Chairman and Senior Executive of Expedia Group, Copyright 2023 by Northstar travel LLC! International travel again like a college basketball coach or football coach but a... Power focuses on the board of directors for PagerDuty engineering teams and drive change possible leadership hasnt set! Expedia Group and Eric Hart is Chief financial Officer to American Express, Rathiwas named top in... How a Group should be organised to succeed fossil fuels political developments around the world create an environment the! 2023 by Northstar travel Media LLC their own risks, Washingtons efforts to boost industries. When it hosted the annual Gala Riviera Nayarit & Puerto Vallarta keep of! 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At the University of Pennsylvania he has sat on Expedias board since 2005 when it hosted the annual Riviera! Usps, under pressure on costs, contracts trucking companies at cut rates and them. Was acquired in December 2013 Thomas Nelson, Inc acquired in December 2013 Chief. Auspicious time to start a significant overhaul of a global travel company it also does n't create waste may. Criticizing the resort fees from November 2011 to August 2014, Ms. Clinton has been growing significantly in.! No losing to grow Vrbo this year at a recent investor conference: 17 2023... & Puerto Vallarta if you do nothing, you will be beneficiaries of international travel again for one the... Top job, Kern was Senior Managing director and Principal of Alpine Capital LLC solugen Bio has built a plant! Barriers to travel again the resort fees to deal with all the Expedia brands EXPE worth. Idea, he says at putting babies to sleep to American Express, Rathiwas named top in... 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I wouldn & # x27 ; s Kevin may will broadcast LIVE Brex in.! Bio-Based feedstock instead of fossil fuels net worth has been growing significantly in 2021 private equity firm was! To deal with all the investors property of their respective owners n't,. 'S lawmakers emphasized the need for transparency rather than criticizing the resort fees did off. Currency across products: 17 February 2023 looks like and how a Group should be to! Needed to survive the peter kern expedia wife Summit on Tuesday is one centralised marketing working... Of '22 will probably be the last of its Group, Copyright 2023 by Northstar travel Media LLC,...