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. 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. Harness the power of the Salesforce Customer 360 to deliver personalized experiences and build long-term traveler loyalty. 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. Mr. von Furstenberg has been a director of Expedia Group since December 2015. 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. Vrbo did great and continues to be super strong. 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. Match, Barry Diller, and Interactive Corp Liberty. 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. But February 2020 was not an auspicious time to start a significant overhaul of a global travel company. series is Peter Kern, CEO and vice chairman at Expedia Group, one of the world's largest online travel companies. 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. One of his methods was sending out semi-regular videos from his wood-clad Seattle home. 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. He argues that in western countries, Covid prompted both a savings boom and wave of spending on material goods while restaurants, hotels and airlines were shut down. Ms. Clinton has also served as a member of the Board of Directors of the Clinton Health Access Initiative since September 2011. 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. 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. Peter Kern, CEO of Expedia Group. Transcript : Expedia Group, Inc., Q2 2022 Earnings Call, Aug 04, 2022. Mr. Kern has spent decades in leadership roles in public and private settings. 02:48 - Source . We all try to do our best to take care of the traveler, and I hope the industry will take this as a moment to say, "What can we do better and in a more collaborative way to make the traveler experience better, from the provider to OTAs to whomever?" What will ChatGPT mean for the travel industry? 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. Continue reading your article witha WSJ subscription, Already a member? 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. Expedia Group Vice Chairman and CEO Peter Kern's 2021 total compensation was $296 million. Expedia, Inc., an Expedia Group company. Airbnb had $4.8 billion. 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. This copy is for your personal, non-commercial use only. 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. Peter Kern, Expedia CEO, joins 'TechCheck' to discuss the company's disappointing quarterly earnings report, what's next for travel demand and more. Expedia Group CEO Peter Kern told CNBC on Friday he's not worried about customers abandoning actual travel for a virtual-reality alternative. He is on the Board of Directors at Soar Technology Acquisition Corp., Luxury Retreats International, Inc., Expedia Group, Inc., ASPiRE Channel LLC, Cine Latino, Inc., Faith Media Holdings LLC, InterMedia Espanol, Inc., TV Squared Ltd., UP Entertainment LLC and WAPA America, Inc. Mr. Kern was previously employed as a President by Gemini Associates, Inc., a Senior Managing Director & Principal by Alpine Capital LLC, a Director-Supervisory Board by BSH Hausgerte GmbH, a Member-Supervisory Board by BSH Hini aparati doo, a Chief Administrative Officer by Home Shopping Network, Inc., a Managing Partner by InterMedia Partners LP, and a SVP-Corporate Finance & Strategic Development by Whittle Communications LP. Expedia Group Only a quarter of the world's population is fully vaccinated against COVID 19. degree from the Wharton School at the University of Pennsylvania. Expedia Group CEO Peter Kern. 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. Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. 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. 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. 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 spent decades in leadership roles in public and private settings. LAS VEGAS--(BUSINESS WIRE)--At its annual partner event, EXPLORE, Expedia . There is only winning or learning. 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. 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. 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. In some he read bedtime stories to the children of frazzled staff. Prior to BECU, Beverly most recently served as President of Global Consumer Solutions at Equifax, leading a team of 2,000 employees across product, marketing, and operations for the consumer credit reporting agency in the United States, Canada, and the United Kingdom. Leisure has, weirdly, started to replace business in the front of the plane. degree from the University of Pennsylvania Carey Law School and a B.B.A (Bachelor of Business Administration) degree from the University of Miami. On Halloween 2020, Expedia chief executive Peter Kern was wearing moose antlers and reading bedtime stories over Zoom to his employees children. So, kudos to science and innovation and ingenuity. Crystal Tse. Rathihas extensive technology and engineering experience and has spent most of her career developing and building platforms and products for emerging technologies. We were never purpose-built that way -- we had a bunch of stacks that did their own things. Kerns strategy: fewer people organised around clearer goals. Ms. Whalen began her career in public accounting with KPMG Peat Marwick. Where previous experience did pay off was raising the emergency cash that Expedia needed to survive the pandemic. Copyright 2023 Northstar Travel Media, LLC. 301 Route 17 N, Suite 1150, Rutherford, NJ His Broadway credits include To Kill A Mockingbird; The Iceman Cometh; Carousel; Three Tall Women; A Dolls House, Part 2; The Humans; and Betrayal. He also served as Chairman of the Board and Chief Executive Officer of QVC, Inc. from December 1992 through December 1994 and as the Chairman of the Board and Chief Executive Officer of Fox, Inc. from 1984 to 1992. Rathialso currently sits on the board of directors for PagerDuty. Expedias rival Booking.com had higher profits and half the fixed cost base. As of 15 February 2023 he still owns at least 1,585 units of Expedia Inc stock. 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. Rathi holds a Masters in Computer Engineering from Santa Clara University, California. It was a precarious moment: Calls to the company's call. from The John Marshall Law School. Mr. Khosrowshahi has served as the Chief Executive Officer of Uber Technologies, Inc. since August 2017. Gato Investments LP, managed by InterMedia Advisors, LLC completed the acquisition of remaining stake in Hemisphere Media Group, Inc. from Boyar Asset Management, Inc., Edenbrook Capital Partners, LLC and others. 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. Expedia Group plans to do at least three things to grow its Vrbo business in 2023. If they don't need to talk to a person and they can get a quick, easy answer to their problem, they're happier. degree from the Wharton School at the University of Pennsylvania. 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. Expedia, the biggest player in international and big city travel, relies heavily on families looking to book hotels, flights and car rentals. Peter Kern is the new CEO of Expedia Group and Eric Hart is chief financial officer.. Simply log into Settings & Account and select "Cancel" on the right-hand side. Peter is a Managing Partner of InterMedia Partners VII, LP, a private equity firm. 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. 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. 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. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. Mr. Jacobson was a director of Ticketmaster from August 2008 until its merger with Live Nation, Inc. in January 2010, Aver Media, a privately-held Canadian lending institution, Eventful Inc., a digital media company, and New Form Digital. 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. Bloomberg: Balance of Power focuses on the politics and policies being shaped by the agenda of President Biden's administration. 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 Not just informationally; I think people are beyond, "What are the cleanliness standards? . . 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. There are 3 executives at Expedia Inc getting paid more, with BarryDiller having the highest compensation of $6,392,070. Vice Chairman and Chief Executive Officer, Expedia Group, Inc. Chief Executive Officer, Uber Technologies, Inc. Deputy General Counsel, SoftBank Group International. . 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. He studied computer science at Stanford University from September 2016 to March 2017. Co-Chief Executive Officer and Founder, Brex Inc. One of the companys new values is Choose Fearlessly. 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. Before joining JBG, Ms. Banerjee worked at the Blackstone Group, focusing primarily on hotel, office, and senior living acquisitions, and at Citigroup in its investment banking division. We're treating [Expedia Group] as a house of brands as opposed to discrete businesses that basically compete with one another. Short of finding someone else for the top job, Kern was persuaded to take over full time. Ms. Clinton has been a director of Expedia Group since March 2017. 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. There could be bumps in business travel and other kinds of travel, but next summer, if this summer was any indication, will be gangbusters and, hopefully, the beginning of the end in terms of Covid's impact on travel. degree from the Wharton School at the University of Pennsylvania. 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We're less worried about playing defense, which, you know, six months ago, nine months ago, I couldn't say. 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. Domestic was tremendously strong for us. Expedia Group helps knock down the barriers to travel, making it easier, more enjoyable, more attainable and more accessible. But I wouldn't say, universally, we're as strong as we want to be in every aspect of domestic travel. Bloomberg: Balance of Power focuses on the politics and policiesbeing shaped by the agenda of President Biden's administration. We're also pushing on the brand front. From July 2004 until April 2010, Mr. Dolgen was a Senior Advisor to Viacom, Inc., a worldwide entertainment and media company, where he provided advisory services to the chief executive officer on an as-requested basis. From hotels and vacation rentals to airlines, financial institutions, travels agents and more - this fast-growing division helps partners connect with new travelers, deliver valuable services, and drive performance. No one wants to. Mr. Kern also serves on the boards of several private companies. Previously Gorin was President of Expedia Business Services which comprised of Expedia Partner Solutions and Egencia. Michael began his journey with Expedia Group in 2020 as Chief Inclusion and Diversity Officer. 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. Gieselman is an inspiring, transformational leader with more than 30 years experience, building award winning marketing teams across consumer products, retail, media and tech. I think '22 into '23 will be a great period for the industry, and I hope the world gets to travel again. Prior to joining InterMedia, Mr. Kern was Senior Managing Director and Principal of Alpine Capital LLC. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. 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. Kern says his staff needed ongoing love. Expedia, Expedia Group,
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. Since June 2017, Mr. Dubrugas has served on the Board of Directors of MercadoLibre, Inc., a leading Latin American e-commerce technology platform. 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. 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. 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. Keep abreast of significant corporate, financial and political developments around the world. 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Some questioned not only whether Expedia would survive but whether it was worth staying in the industry long term. Ms. Menendez Cambo holds a J.D. Business travel will come back. So, for every loser, we have a winner or, hopefully, two winners. Prior to founding Gemini Associates, Mr. Kern was at the Home Shopping Network and Whittle Communications Mr. Kern also currently serves as Chairman of the board of directors of Hemisphere Media Group, Inc., a publicly-traded Spanish-language media company and as Chairman of the Supervisory Board of trivago N.V., a majority-owned subsidiary of Expedia Group, as well as on the boards of several private companies. Mr. von Furstenberg also serves as a partner and Co-Chairman of the Board of Diane von Furstenberg Studio, LLC. cookies And then we can have really good people to solve harder problems at a higher rate, in a faster way. When when places open . I knew what we needed to deliver and had negotiated more than my share of those deals, Kern says. Ukrainian forces are training to maneuver, load ammunition and maintain Western-style tanks in the U.K. WSJ visited the drills to learn how Challenger 2 tanks could give Ukraine an advantage against the Soviet-era tanks currently on the battlefield. 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. Before joining Fox, Mr. Diller served for 10 years as the Chairman and Chief Executive of Paramount Pictures Corporation. 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. We use -- that's part of our bread and butter, and that's been fairly restricted. Peter M Kern, Expedia Group Inc: Profile and Biography - Bloomberg Markets Bloomberg TV+ Bloomberg Surveillance Bloomberg Surveillance with Tom Keene, Jonathan Ferro & Lisa Abramowicz. Mr. Kern is a Managing Partner of InterMedia Partners VII, LP, a private equity firm. Kern translates this into the words of Lionel Richie, his favourite judge from the television show American Idol: There is no losing. Any changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel. Peter Kern is the Vice Chairman and Chief Executive Officer of Expedia Group. Prior to assuming this role, Ms. Clinton served as a member of the Board of Directors of the Clinton Foundation from September 2011. 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. I think sometimes its possible leadership hasnt appropriately set out what success looks like and how a group should be organised to succeed. RathiMurthy is CTO and President of Expedia Product & Technology, which includes overseeing the companys product and platform strategy. Tags: airbnb, booking holdings, ceo pay, expedia, expedia group, news blog, tripadvisor. 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Presents at Goldman Sachs Communacopia + Technology Conference 2022, Sep-13-2022 10:00 AM. Wife: Not Available: Sibling: Not Available: Children: Not Available : Peter Kern Net Worth. Rathihas held senior technology leadership roles at some of the worlds best technology companies including eBay, Inc., Yahoo, Sun Microsystems and WebMD. Prior to Expedia Group, Ms. Whalen served as EVP and CFO at Williams-Sonoma, Inc. for more than ten years, having progressed through positions of increasing responsibility in Williams-Sonomas finance organization since joining in 2001. She is also an Art of Living Teacher and has a passion to help spread peace in the community. analyse how our Sites are used. Beverly Anderson has more than 30 years of experience in the financial services industry and became the President and Chief Executive Officer (CEO) of BECU in December 2022. You may change or cancel your subscription or trial at any time online. He also served on the board at Televicentro of Puerto Rico LLC and Thomas Nelson, Inc. 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. Stay informed and spot emerging risks and opportunities with independent global reporting, expert Staff were dealing with a torrent of anguished customer phone calls as they tried to cancel and get refunds for trips. our Subscriber Agreement and by copyright law. Vice Chairman and Chief Executive Officer. Kern became Expedia Group CEO during the early days of the pandemic in April 2020. Michael began his career practicing law in New York and Mexico City within a variety of disciplines, including corporate transactions, civil litigation, intellectual property and employment law. 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. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Peter Kern is currently Vice Chairman of the Board and Chief Executive Officer at Expedia Group - View - Expedia Group org chart 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. 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