SEATTLE - Expedia (NASDAQ:EXPE) Group, Inc. (NASDAQ:EXPE) has announced that Ariane Gorin will take over as CEO effective May 13, 2024. Gorin, currently President of Expedia for Business, will succeed Peter Kern, who has been at the helm since 2020. Kern is set to continue as Vice Chairman and a member of the Board of Directors, assisting with the transition.
Gorin has been with Expedia Group since 2013, holding various executive roles and most notably leading the B2B sector to a 33% revenue growth in 2023 compared to the previous year. Her tenure as President of Expedia for Business saw her managing the company's global supply partner group, advertising business, and B2B partner network.
Barry Diller, Chairman and Senior Executive of Expedia Group, expressed confidence in Gorin, citing her exemplary leadership over the past decade. Gorin expressed her honor in leading the company and anticipates further growth, capitalizing on the foundation laid by Kern and the global team.
Kern praised the resilience of the Expedia Group team during a period of ambitious transformation, positioning the company to lead the industry in the coming decades. He commended Gorin's leadership skills, especially in managing the B2B business, and looks forward to supporting her in his role as Vice Chairman.
The press release also highlighted the company's commitment to powering travel for everyone, everywhere, with its consumer brands including Expedia®, Hotels.com®, and Vrbo®, and the One Key™ loyalty program. The forward-looking statements in the press release are based on current management estimates and are subject to risks and uncertainties.
This leadership change announcement is based on a press release statement from Expedia Group.
InvestingPro Insights
As Expedia Group, Inc. (NASDAQ:EXPE) welcomes Ariane Gorin as its new CEO, the company's financial health and market performance remain vital considerations for investors. Gorin's track record of driving revenue growth, combined with the company's strategic initiatives, sets the stage for future financial prospects.
InvestingPro data indicates that Expedia Group has a market capitalization of 22.14 billion USD, reflecting its substantial presence in the travel industry. The company's Price to Earnings (P/E) ratio stands at an attractive 20.2 when adjusted for the last twelve months as of Q3 2023, suggesting that the stock may be trading at a reasonable valuation relative to its near-term earnings growth. This is further supported by a PEG ratio of 0.27 during the same period, which could indicate potential for earnings growth compared to the stock price. Moreover, Expedia has demonstrated impressive gross profit margins of 86.91% over the last twelve months, highlighting its ability to retain a significant portion of revenue after accounting for the cost of goods sold.
InvestingPro Tips reveal that Expedia's management has been proactively buying back shares, which could be a sign of confidence in the company's value. Additionally, the company's net income is expected to grow this year, and with six analysts having revised their earnings upwards for the upcoming period, the financial outlook appears positive. For investors seeking more comprehensive insights, there are 12 additional InvestingPro Tips available, which could be accessed through the InvestingPro platform. By using the coupon code SFY24 for a 2-year subscription or SFY241 for a 1-year subscription, users can receive an additional 10% off.
With Gorin at the helm, Expedia Group may continue to capitalize on its robust financial metrics and strategic leadership to navigate the competitive travel industry landscape.
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