Organising to succeed has a cost. 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. We think that generates a huge amount of opportunity for our B2C and B2B businesses. I knew what we needed to deliver and had negotiated more than my share of those deals, Kern says. 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. We're trying to play offense into what we think will be a recovery. He is also a member of the Board of Trustees of California Institute of the Arts and a director of the Simon Wiesenthal Center. Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. Expedia family of travel brands includes: Brand Expedia, Hotels.com, Expedia Partner Solutions, Vrbo, Egencia, trivago, HomeAway, Orbitz, Travelocity, Hotwire, Wotif, ebookers, CheapTickets, Expedia Group Media Solutions, Expedia Local Expert, CarRentals.com, Expedia CruiseShipCenters, Classic Vacations, Traveldoo, VacationRentals.com and SilverRail. I think people are figuring out how to protect themselves and deal with their own risks. Mr. Dzielak had previously served as Senior Vice President and acting General Counsel since October 2011. [We sold Egencia to American Express Global Business Travel] not because we thought corporate travel would lag. Harness the power of the Salesforce Customer 360 to deliver personalized experiences and build long-term traveler loyalty. As of 15 February 2023 he still owns at least 1,585 units of Expedia Inc stock. You may change or cancel your subscription or trial at any time online. Vice Chairman and Chief Executive Officer, Chief People, Inclusion & Diversity Officer, Chief Technology Officer and President, Expedia Product & Technology, President and Chief Executive Officer of BECU, Chief Financial Officer, JBG Smith Properties. Expedia, Inc., an Expedia Group company. 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. organisation Mr. Jacobson also founded Whisper Advisors, a boutique investment banking/advisory company. 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 New Reality With is brought to you by Salesforce. 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. 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. feel like they are making a difference, he explains. Mr. von Furstenberg has been a director of Expedia Group since December 2015. Peter is a Managing Partner of InterMedia Partners VII, LP, a private equity firm. 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. 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. Peter M. Kern serves as Chief Executive Officer, Vice Chairman of the Board of the Company. 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. CEO Peter Kern told an investor conference Monday that Vrbo would be the last of its . Part of his efforts to make Expedia more competitive has been to push decision making down the ranks and allow people to make their own choices. She currently serves as an advisor to LiveSafe, Inc. Ms. Clinton holds a B.A. Barry Diller is the Chairman and Senior Executive of IAC and the Chairman and Senior Executive of 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. Now the company is emerging from the pandemic into an equally uncertain world. 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. Skift Travel Health Index: January 2023 Highlights, Online Travel Booking Trends During the Pandemic. 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. I like to take on elements and traits that fit me from the different leaders I respect. I was very good at putting my own sons to sleep that way.. The company's CEO Peter Kern explains. 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. He has been vice chairman since 2018, and a board member since 2005. Peter Kern is 52, he's been the Chief Executive Officer and Vice Chairman of the Board of Expedia Inc since 2020. 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. 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 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. Mr. Kern holds a B.S. 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. series is Peter Kern, CEO and. Peter Kern joined Expedia Group in 2005. Prior to. Expedia prepares for post-pandemic travel surge. 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. 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. 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. Rathi holds a Masters in Computer Engineering from Santa Clara University, California. Prior to Apple, Gieselman served as Senior Vice President of Marketing at DirecTV, one of the world's largest television distributors, having previously served in senior marketing roles at Sears Holding Corporation, Home Shopping Network and Ray-Ban Sunglasses. Kern's discussion with PhocusWire's Kevin May will broadcast LIVE . and a law degree from Pepperdine University. Leisure has, weirdly, started to replace business in the front of the plane. Since 2001, he has acted as Chief Investment Officer of Arrow Investments, Inc., the private investment office that serves his family. .css-16c7pto-SnippetSignInLink{-webkit-text-decoration:underline;text-decoration:underline;cursor:pointer;}Sign In, Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. On Halloween 2020, Expedia chief executive Peter Kern was wearing moose antlers and reading bedtime stories over Zoom to his employees' children. degree from the Wharton School at the University of Pennsylvania. Prior to founding Gemini Associates, Mr. Kern was at the Home Shopping Network and Whittle Communications. All this change creates traveler pain and also creates company pain because you've got to service customers, and they're needing service at much more elevated levels. And that's a problem for the travel industry. 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For non-personal use or to order multiple copies, please contact Earlier in his career, Mr. Altman co-founded Loopt, Inc., a provider of mobile location-based services, and served as its Chief Executive Officer until it was acquired by Green Dot Corporation in March 2012, after which he held a number of senior executive positions at Green Dot, including Executive Vice President, Mobile Products and Technology, through December 2013, and served as a member of its Board of Directors from March 2013 through April 2016. 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. 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. And then we can have really good people to solve harder problems at a higher rate, in a faster way. Mr. Diller held the positions of Chairman of the Board and Chief Executive Officer of IAC and its predecessors since August 1995 and ceased serving as Chief Executive Officer in November 2010. Domestic was tremendously strong for us. U.S. government bonds prices have been hit by inflation, fears of persistent high rates. We've always been stronger in big destination cities, Vegas, things like that, and some got hit during Covid. Mr. Altman has also been the General Partner of Hydrazine Capital, an early-stage venture capital firm, since April 2012. 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. Since July 2004, Mr. Dolgen has been a private investor. She is also an Art of Living Teacher and has a passion to help spread peace in the community. Rathihas held senior technology leadership roles at some of the worlds best technology companies including eBay, Inc., Yahoo, Sun Microsystems and WebMD. One of the companys new values is Choose Fearlessly. It used to be like a college basketball coach or football coach but now a sommelier would be better.