By Fortune Editors and Reuters
August 30, 2017

Expedia named chief financial officer Mark Okerstrom as its new chief executive, replacing Dara Khosrowshahi, who left to take over the top job at Uber.

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.

 

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