Khosrowshahi, who led the travel-booking site for 12 years, will continue to be a board member, the company said in a statement on Wednesday.
Okerstrom, who has been Expedia’s CFO and executive vice president of operations for the last six years, was also named to the company’s board, the travel-booking site said.
“There was no other candidate that the board considered,” Expedia Chairman Barry Diller said.
Okerstrom was Khosrowshahi’s “principal partner” in running Expedia, the Redmond, Wash.-based company said. During Khosrowshahi’s tenure, Expedia became the largest online travel agency by bookings and its stock price grew more than six-fold. Earlier this month, the company revealed its plans to expand into the train booking business.
Expedia shares were marginally up in extended trading on Wednesday. Uber is a private company, but Khosrowshahi has said that he would like to take it public within the next three years.