02:48 - Source . We're optimistic, we're ambitious for ourselves and our partners, we want to get everybody back to success, and we think there's a big opportunity for us all to be more successful because we work together in smarter ways. Peter served as Director at Expedia Group. . He has been vice chairman since 2018, and a board member since 2005. Expedia Group CEO Peter Kern speaks from his home during a session at the virtual GeekWire Summit on Tuesday. Now, there is one centralised marketing hub working on all the Expedia brands. One month later, Covid hit the US and Europe and the travel industry came to a standstill. So, kudos to science and innovation and ingenuity. Over the last 18 months, there's been a lot of putting out fires, dealing with new fires, etc. If they don't need to talk to a person and they can get a quick, easy answer to their problem, they're happier. 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. Peter is a Managing Partner of InterMedia Partners VII, LP, a private equity firm. On average, Peter trades about 2,602 units every 74 days since 2005. I believe cities will come back, of course, and will be beneficiaries of international travel again. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Kern says his staff needed ongoing love. I think people are figuring out how to protect themselves and deal with their own risks. commentary and analysis you can trust. He currently serves on the Board of Directors of all three companies and as Chairman of Helion and Oklo. Mr. Dolgen was a director of Ticketmaster from August 2008 through its merger with Live Nation, Inc. in January 2010 and thereafter a director of Live Nation, Inc. through June 2018. On average, Expedia Inc executives and independent directors trade stock every 11 days with the average trade being worth of $5,901,815. Keep abreast of significant corporate, financial and political developments around the world. degree from the Wharton School at the University of Pennsylvania. Important questions for industry leaders to address in troubled times for one of the biggest business sectors in the world. He serves on the boards of The Coca-Cola Company and MGM Resorts International. He received his undergraduate degree from The Wharton School of the University of Pennsylvania. Expedia Group used to be like a sports team where the athletes were competing against each other rather than using the same game plan. Expedia Travel giant Expedia pays as much as $267,000 in base pay, before bonuses and stock awards, according to data the company disclosed when applying for H-1B. In some he read bedtime stories to the children of frazzled staff. Ms. Clinton has been a director of Expedia Group since March 2017. She currently serves on the board of directors of Adecco Group, and is on the advisory council of the Royal Philharmonic Orchestra in London. Prior to founding Ranger, Mr. von Furstenberg founded Arrow Capital Management, LLC, a private investment firm focused on global public equities, where he served as Co-Managing Member and Chief Investment Officer since 2003. Prior to joining Paramount, Mr. Diller served as Vice President of Prime Time Television for ABC Entertainment. On Halloween 2020, Expedia chief executive Peter Kern was wearing moose antlers and reading bedtime stories over Zoom to his employees children. Ms. Whalen began her career in public accounting with KPMG Peat Marwick. 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. Mr. Dolgen holds a B.S. Previously, Mr. Kern was CEO of Tribune Media and Managing Partner of InterMedia Partners VII, LP, a private equity firm. In a matter of months, the former honors student went from living in a luxury penthouse with other executives at FTX to becoming the latest member of the crypto exchanges inner circle to plead guilty to fraud. I like to take on elements and traits that fit me from the different leaders I respect. Ms. Clinton has also served as a member of the Board of Directors of the Clinton Health Access Initiative since September 2011. Mr. Kern has spent decades in leadership roles in public and private settings. For cost savings, you can change your plan at any time online in the Settings & Account section. Co-Chief Executive Officer and Founder, Brex Inc. Inflation is rising, the war in Ukraine has prompted vast spikes in fuel prices and consumers are showing signs of curbing spending. 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. Domestic was tremendously strong for us. From moonshots to vaccines, Washingtons efforts to boost specific industries work best with focused goals. 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. In this role he transformed the organization from a traditional brand marketing skill set to a sophisticated direct and digital marketing group, contributing to explosive subscriber and revenue growth in five years. 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. 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. Where previous experience did pay off was raising the emergency cash that Expedia needed to survive the pandemic. 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. Choosing one leadership hero is hard. Big-ticket items such as holidays look a risky bet. 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. 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. 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. 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. Now the company is emerging from the pandemic into an equally uncertain world. In this role, he leads the people and culture strategy for the company, including attracting and retaining talent, creating an inclusive and diverse workplace, and continuously improving the employee experience. 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. Mr. von Furstenberg has been a director of Expedia Group since December 2015. 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. Altman has also been the General Partner of Hydrazine Capital, an early-stage venture capital firm, since April 2012. Peter Kern Vice Chairman and Chief Executive Officer, Expedia Group, Inc. Dara Khosrowshahi Chief Executive Officer, Uber Technologies, Inc. Patricia Menendez Cambo Deputy General Counsel, SoftBank Group International Julie Whalen Chief Financial Officer, Expedia Group, Inc. Director Emeritus Jonathan Dolgen Principal, Wood River Ventures, LLC She most recently served as CTO for Verizon Media. 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. Peter Kern, CEO of Expedia Group. and a law degree from Pepperdine University. The estimated Net Worth of Peter M Kern is at least $2.1 Million dollars as of 15 February 2023. .css-16c7pto-SnippetSignInLink{-webkit-text-decoration:underline;text-decoration:underline;cursor:pointer;}Sign In, Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. That includes $157 million in stock awards and $137 million in option awards. The next guest on the New Reality With. That includes $157 million in stock awards and $137 million in option awards. What was the first leadership lesson you learnt? We've talked about how we're going to bring the loyalty programs together so that customers can use that currency across products. It was certainly not my idea or [Dillers] that it would be me, he notes. The state's lawmakers emphasized the need for transparency rather than criticizing the resort fees. Expedia, Expedia Group, Expedia Group helps knock down the barriers to travel, making it easier, more enjoyable, more attainable and more accessible. Bloomberg: Balance of Power focuses on the politics and policiesbeing shaped by the agenda of President Biden's administration. That its OK to make mistakes. 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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. Ms. Whalen also serves on Expedia Groups Board of Directors, a position she has held since 2019. -- that's part of our bread and butter, and that's been fairly restricted. our Subscriber Agreement and by copyright law. 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. Kern's discussion with PhocusWire's Kevin May will broadcast LIVE . Last updated: 17 February 2023 at 6:45pm EST. Prior to these efforts, Ms. Clinton worked as an associate at McKinsey & Company, a consulting firm, from August 2003 to October 2006, and as an associate at Avenue Capital Group, an investment firm, from October 2006 to November 2009. We were never purpose-built that way -- we had a bunch of stacks that did their own things. Kern translates this into the words of Lionel Richie, his favourite judge from the television show American Idol: There is no losing. Simply log into Settings & Account and select "Cancel" on the right-hand side. 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 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. 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. Rathihas held senior technology leadership roles at some of the worlds best technology companies including eBay, Inc., Yahoo, Sun Microsystems and WebMD. 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. Expedia Group CEO Peter Kern said the company is gearing up for a travel rebound in part by investing more heavily in Vrbo, a home-rental rival to Airbnb. How have company chiefs dealt with the coronavirus outbreak? 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. 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. All rights reserved. Continue reading your article witha WSJ subscription, Already a member? Rathihas extensive technology and engineering experience and has spent most of her career developing and building platforms and products for emerging technologies. There are 6 older and 12 younger executives at Expedia Inc. That ability to fail and realise its not life threatening is an important life lesson. Mr. Jacobson also founded Whisper Advisors, a boutique investment banking/advisory company. Long-haul air is, obviously, more beneficial for us than short-haul air, and long-haul international -- Europe to U.S., U.S. to Europe, to Asia, etc. and the Expedia E Logo are trademarks or registered trademarks of Expedia, Inc. Expedia, Expedia Group, Expedia CEO Peter Kern. 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. 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. Mr. Diller served as the non-executive Chairman of the Board of Ticketmaster Entertainment, Inc. from 2008 to 2010, when it merged with Live Nation, Inc. to form Live Nation Entertainment, Inc. Mr. Diller served as the non-executive Chairman of the Board of Live Nation Entertainment, Inc. from January 2010 to October 2010 and was a member of its Board until January 2011. https://www.wsj.com/articles/travel-boom-coming-expedia-ceo-says-hotels-will-come-screaming-back-11618664400. Expedia Group Only a quarter of the world's population is fully vaccinated against COVID 19. From November 2011 to August 2014, Ms. Clinton also worked as a special correspondent for NBC news. His salary was around. Gieselman is an inspiring, transformational leader with more than 30 years experience, building award winning marketing teams across consumer products, retail, media and tech. 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. Prior to assuming this role, Ms. Clinton served as a member of the Board of Directors of the Clinton Foundation from September 2011. 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. So, knock wood, that is in our heads and in our planning. Expedia Group Vice Chairman and CEO Peter Kern's 2021 total compensation was $296 million. 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. Peter Kern became chief executive officer of Expedia Group Inc. last April, during the travel industry's worst crisis in decades. Kern has needed a measure of calm throughout the two years he has been Expedias chief executive. 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. No one wants to. The largest trade he's ever made was exercising 50,000 units of Expedia Inc stock on 20 June 2021 worth over $5,448,500. He said Expedia Group would make tech improvements to help Vrbo to take . Expedia, the biggest player in international and big city travel, relies heavily on families looking to book hotels, flights and car rentals. Chief Financial Officer, Expedia Group, Inc. . Kerns strategy: fewer people organised around clearer goals. 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. But trying to be all things was slowing down our company. 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. . organisation Ms. Banerjee graduated with a Bachelor of Science in International Economics from Georgetown University and earned a Master of Business Administration from The Wharton School of the University of Pennsylvania. 301 Route 17 N, Suite 1150, Rutherford, NJ series is Peter Kern, CEO and. 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. The most active insiders traders include Group, Inc. Standard Digital includes access to a wealth of global news, analysis and expert opinion. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. Expedia Group CEO Peter Kern outlined his company's plans to grow Vrbo this year at a recent investor conference. While at American Express,Rathiwas named Top Woman in Cloud Innovation in 2014, and Most Influential Women in Payments in 2015. I think '22 into '23 will be a great period for the industry, and I hope the world gets to travel again. In the 10 weeks after the shutdown of travel in Europe and the US in March 2020, Expedia handled 22mn calls and messages, more than double its usual rate. Prior to joining SoftBank, Ms. Menendez Cambo served in various leadership roles at the law firm of Greenberg Traurig, LLP, including as Vice Chair and as a member of the firm's Executive Committee. Kern became Expedia Group CEO during the early days of the pandemic in April 2020. 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. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. Skift Travel Health Index: January 2023 Highlights, Online Travel Booking Trends During the Pandemic. 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