Where are the biggest pressure points in their businesses and the wider industry that might still emerge? Expedia CEO Peter Kern on fourth-quarter earnings and travel outlook for 2021 CNBC's "Squawk on the Street" team discusses Expedia's latest earnings report and how consumer demand to. Mr. Jacobson has been a director of Expedia Group since December 2007. Everyone has bought enough stuff, he says. 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. We were never purpose-built that way -- we had a bunch of stacks that did their own things. 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. No matter how smart you are you cant scale IQ points. 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. He said Expedia Group would make tech improvements to help Vrbo to take . Mr. von Furstenberg has been a director of Expedia Group since December 2015. When when places open . 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. 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. There are 6 older and 12 younger executives at Expedia Inc. But, like the ebb and flow of omicron, some countries put up restrictions, others change the rules, and the traveler thinks, "What does it mean to me, can I cancel, can I not?" 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. and other data for a number of reasons, such as keeping FT Sites reliable and secure, But trying to be all things was slowing down our company. Discover Peter Kern's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. On Halloween 2020, Expedia chief executive Peter Kern was wearing moose antlers and reading bedtime stories over Zoom to his employees' children. 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. From April 1994 to July 2004, Mr. Dolgen served as Chairman and Chief Executive Officer of the Viacom Entertainment Group, which primarily included Paramount Pictures and Paramount Television, Paramounts regional theme parks, motion picture theaters, and book publishing operations. We think that generates a huge amount of opportunity for our B2C and B2B businesses. . Business travel will come back. commentary and analysis you can trust. He also served on the board at Televicentro of Puerto Rico LLC and Thomas Nelson, Inc. How might particular brands and markets evolve to meet the new set of circumstances that they and travelers find themselves in. Before joining Microsoft, she was a consultant with the Boston Consulting Group, both in San Francisco and in Paris. The state's lawmakers emphasized the need for transparency rather than criticizing the resort fees. USPS, under pressure on costs, contracts trucking companies at cut rates and pushes them to meet aggressive delivery schedules. That's where we're trying to go. Prior to joining Paramount, Mr. Diller served as Vice President of Prime Time Television for ABC Entertainment. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. 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. The most recent stock trade was executed by Lance A Soliday on 21 February 2023, trading 5,387 units of EXPE stock currently worth $566,335. Ms. Whalen began her career in public accounting with KPMG Peat Marwick. Expedia Group Vice Chairman and CEO Peter Kern's 2021 total compensation was $296 million. 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. From moonshots to vaccines, Washingtons efforts to boost specific industries work best with focused goals. Im a big fan of old world Italian and French wines. Rathialso currently sits on the board of directors for PagerDuty. Expedias then-management blamed the encroachment of Google into travel booking but its chair, the media mogul Barry Diller, said the business had become all play and no work. I think '22 into '23 will be a great period for the industry, and I hope the world gets to travel again. 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. One of his methods was sending out semi-regular videos from his wood-clad Seattle home. Fri, Feb 10 202311:47 AM EST. Jon Gieselman is the President of Expedia Brands, where he is focused on brand marketing, growth marketing and marketing technology services across all Expedia Group consumer brands. cookies But I wouldn't say, universally, we're as strong as we want to be in every aspect of domestic travel. 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. A sharper-than-expected expansion of activity offers Chinese leaders an opportunity to shift the spotlight away from pandemic missteps. From February 2014 through March 2019, he served as President of Y Combinator, a provider of advice and seed financing for startups. Important questions for industry leaders to address in troubled times for one of the biggest business sectors in the world. Peter served as Director at Expedia Group. Last updated: 17 February 2023 at 6:45pm EST. 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. 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. Founder and Chief Investment Officer, Ranger Global Advisors, LLC, Partner, Hansen, Jacobson, Teller, Hoberman, Newman, Warren, Richman, Rush, Kaller & Gellman, LLP. 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. Javascript is required for this site to display correctly. Expedia Group CEO Peter Kern told CNBC on Friday he's not worried about customers abandoning actual travel for a virtual-reality alternative. Some questioned not only whether Expedia would survive but whether it was worth staying in the industry long term. On Halloween 2020, Expedia chief executive Peter Kern was wearing moose antlers and reading bedtime stories over Zoom to his employees children. I think there are still a fair number of antiquated rules and processes that just make it harder than it needs to be. 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. Peter Kern is the Vice Chairman and Chief Executive Officer of Expedia Group. All Rights Reserved. Prior to joining Fox, Inc., Mr. Diller served for ten years as Chairman of the Board and Chief Executive Officer of Paramount Pictures Corporation. 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. from The John Marshall Law School. 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. Gieselman is an inspiring, transformational leader with more than 30 years experience, building award winning marketing teams across consumer products, retail, media and tech. organisation The estimated Net Worth of Peter M Kern is at least $2.1 Million dollars as of 15 February 2023. Mr. Jacobson also founded Whisper Advisors, a boutique investment banking/advisory company. Theres been a big underspend on travel and we and many people believe that will reverse itself. Mr. Khosrowshahi also served as director of TripAdvisor, Inc., from the TripAdvisor Spin-Off until February 2013 and The New York Times Company from May 2015 to September 2017. We're treating [Expedia Group] as a house of brands as opposed to discrete businesses that basically compete with one another. 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. 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. Prior to joining InterMedia, he was Senior Managing Director and Principal of Alpine Capital LLC. Ms. Clinton has also served as a member of the Board of Directors of the Clinton Health Access Initiative since September 2011. Mr. Kern holds a B.S. 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. So, for every loser, we have a winner or, hopefully, two winners. Short stories and posts about the daily news happenings across the travel industry. 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. All rights reserved. She currently serves as an advisor to LiveSafe, Inc. Ms. Clinton holds a B.A. Kern's discussion with PhocusWire's Kevin May will broadcast LIVE . Peter Kern, Expedia Group I think the U.S. will stay a steadfast and strong market for us. Mr. Khosrowshahi worked at Allen & Company LLC from 1991 to 1998, where he served as Vice President from 1995 to 1998. 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. Gorin also oversaw Egencia, the leading digital travel management platform, before its sale to American Express Global Business Travel in 2021. Peter is a Managing Partner of InterMedia Partners VII, LP, a private equity firm. Prior to founding Gemini Associates, Mr. Kern was at the Home Shopping Network and Whittle Communications. Continue reading your article witha WSJ subscription, Already a member? . 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. All other trademarks are property of their respective owners. Peter M. Kern serves as Chief Executive Officer, Vice Chairman of the Board of the Company. 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. 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. Most had their own marketing teams, for example, meaning the replication of work across the business. -- that's part of our bread and butter, and that's been fairly restricted. Do they come into my room and clean it, or do they wear masks at the hotel?" 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. 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. 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. 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