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07070 USA Telephone: (201) 902-2000, https://www.travelweekly.com/Preview-2022/Executive-view-Peter-Kern-Expedia-Group. degree from the Wharton School at the University of Pennsylvania. But I wouldn't say, universally, we're as strong as we want. His Broadway credits include To Kill A Mockingbird; The Iceman Cometh; Carousel; Three Tall Women; A Dolls House, Part 2; The Humans; and Betrayal. 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. The state was in the spotlight recently when it hosted the annual Gala Riviera Nayarit & Puerto Vallarta. 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. 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. Expedia, Expedia Group,
"I'm 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. commentary and analysis you can trust. Wife: Not Available: Sibling: Not Available: Children: Not Available : Peter Kern Net Worth. Expedia, Inc., an Expedia Group company. 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. personalising content and ads, providing social media features and to So, for every loser, we have a winner or, hopefully, two winners. 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. 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. 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. His salary was around $850,000. Where are the biggest pressure points in their businesses and the wider industry that might still emerge? [We sold Egencia to American Express Global Business Travel] not because we thought corporate travel would lag. There is only winning or learning. . 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. 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. A sharper-than-expected expansion of activity offers Chinese leaders an opportunity to shift the spotlight away from pandemic missteps. What will ChatGPT mean for the travel industry? He serves on the boards of The Coca-Cola Company and MGM Resorts International. The more you scale the more true that is, you cant be everywhere. In some he read bedtime stories to the children of frazzled staff. The estimated Net Worth of Peter M Kern is at least $2.1 Million dollars as of 15 February 2023. Prior to assuming this role, Ms. Clinton served as a member of the Board of Directors of the Clinton Foundation from September 2011. Prior to his tenure as Chief Executive Officer of IAC Travel, Mr. Khosrowshahi served as Executive Vice President and Chief Financial Officer of IAC from January 2002 to January 2005, as IACs Executive Vice President, Operations and Strategic Planning, from July 2000 to January 2002 and as President, USA Networks Interactive, a division of IAC, from 1999 to 2000. Now we're rebuilding from the bottom up to scale to the world and really serve partners and get customer traveler innovation much more quickly. We've always been stronger in big destination cities, Vegas, things like that, and some got hit during Covid. 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. 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. Expedia, Inc., an Expedia Group company. Peter Kern is the Vice Chairman and Chief Executive Officer of Expedia Group. 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. degree from the University of Pennsylvania Carey Law School and a B.B.A (Bachelor of Business Administration) degree from the University of Miami. . As president of Expedia for Business, Ariane Gorin is responsible for Expedia Groups global B2B business covering an ecosystem of travel suppliers, organizations that advertise on the Expedia Group platform, and partners that are powered by Expedia Group technology. You can see the complete history of Mr. Kern stock trades at the bottom of the page. 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. If we chased every endpoint, we were going to make it too complex to build the core that we needed. The hotel business has kind of followed the trends of the world. our Subscriber Agreement and by copyright law. I think the U.S. will stay a steadfast and strong market for us. Mr. von Furstenberg has been a director of Expedia Group since December 2015. 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. Ms. Menendez Cambo has served as Deputy General Counsel of SoftBank Group International and General Counsel of the SoftBank Latin America Fund since May 1, 2019 and General Counsel of the SoftBank Opportunity Fund since July 2020. 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. We've made tremendous strides technologically that not only help us take care of more customers more quickly but which have freed up capital to invest in people to take care of customers. Prior to joining Paramount, Mr. Diller served as Vice President of Prime Time Television for ABC Entertainment. from Stanford, an MPH from Columbias Mailman School of Public Health and both an MPhil and a Doctorate in International Relations from Oxford University. 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. Expedia Group CEO Peter Kern speaks from his home during a session at the virtual GeekWire Summit on Tuesday. Mr. Khosrowshahi joined IAC in 1998 as Vice President of Strategic Planning and was promoted to Senior Vice President in 1999. Prior to Expedia he headed up Tribune Media, one of the USs largest broadcasters until its merger with Nexstar Media Group in 2018, and although his prior knowledge of consumer and technology brands has no doubt helped, Kern says his key asset is that he hires people who are far better than me at everything. 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. Peter served as Director at Expedia Group. All other trademarks are property of their respective owners. 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. Email*. 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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. Previously Gorin was President of Expedia Business Services which comprised of Expedia Partner Solutions and Egencia. Peter Kern Vice Chairman and Chief Executive Officer, Expedia Group, Inc. Dara Khosrowshahi Chief Executive Officer, Uber Technologies, Inc. Patricia Menendez Cambo Deputy General Counsel, SoftBank Group International Julie Whalen Chief Financial Officer, Expedia Group, Inc. Director Emeritus Jonathan Dolgen Principal, Wood River Ventures, LLC She has also served as chairperson of the Card Policy Council of the American Bankers Association and board chair of the Council of Urban Professionals. Distribution and use of this material are governed by Short of finding someone else for the top job, Kern was persuaded to take over full time. All rights reserved. Rathialso currently sits on the board of directors for PagerDuty. The stock and option awards represent the fair value at the grant date, and wont necessarily be the actual value when the awards vest. Expedia is planning for a boom in travel as more people get vaccinated. Bloomberg: Balance of Power focuses on the politics and policies being shaped by the agenda of President Biden's administration. Mr. Peter is a Managing Partner of InterMedia Partners VII, LP, a private equity firm. You have to create an environment where the team can deliver, he says. Some questioned not only whether Expedia would survive but whether it was worth staying in the industry long term. This copy is for your personal, non-commercial use only. One month later, Covid hit the US and Europe and the travel industry came to a standstill. Since July 2004, Mr. Dolgen has been a private investor. Standard Digital includes access to a wealth of global news, analysis and expert opinion. She is also an Art of Living Teacher and has a passion to help spread peace in the community. Expedias rival Booking.com had higher profits and half the fixed cost base. 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. Since joining the Company as Assistant General Counsel in April 2006 and through his service as Vice President and Associate General Counsel between February 2007 and October 2011, Mr. Dzielak held primary responsibility for the worldwide litigation portfolio of the Company and its brands. 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. She currently serves as an advisor to LiveSafe, Inc. Ms. Clinton holds a B.A. The company's CEO Peter Kern explains. I think we'll be coming out of this meaningfully improved as an industry, starting next summer. I knew what we needed to deliver and had negotiated more than my share of those deals, Kern says. Mr. Altman has also been the General Partner of Hydrazine Capital, an early-stage venture capital firm, since April 2012. One of the companys new values is Choose Fearlessly. And that's a problem for the travel industry. That its OK to make mistakes. Peter Kern is the new CEO of Expedia Group and Eric Hart is chief financial officer.. 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Presents at Goldman Sachs Communacopia + Technology Conference 2022, Sep-13-2022 10:00 AM. feel like they are making a difference, he explains. The bedtime stories were his wifes idea, he admits on our call. Im a big fan of old world Italian and French wines. They want to. 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. Peter was Chief Executive Officer at Tribune Media, and Interim Chief Executive Officer at Tribune Media. Prior to Alpine Capital, Mr. Kern founded Gemini Associates in 1996 and served as President from its inception through its merger with Alpine Capital in 2001. Mr. von Furstenberg has served as a member of the Board of Directors of IAC since 2008, Liberty Expedia Holdings since November 2016, La Scogliera, an Italian financial holding company, since December 2016 and served as a member of the board of directors of W.P. Vice Chairman and Chief Executive Officer. Mr. Jacobson also founded Whisper Advisors, a boutique investment banking/advisory company. Big-ticket items such as holidays look a risky bet. For non-personal use or to order multiple copies, please contact He has sat on Expedias board since 2005 when it was spun out of the media conglomerate IAC. Mr. Kern has spent decades in leadership roles in public and private settings. Mr. Diller has been the Chairman and Senior Executive of Expedia Group since the completion of the Companys spin-off from IAC/InterActiveCorp (IAC) on August 9, 2005 (the IAC/Expedia Group Spin-Off). Beyond the office, Beverly is dedicated to giving back to her community, serving on the boards of Expedia Group, Accion, Sword Health, and the Harvard Business School African-American Alumni Association. Peter M Kern, Expedia Group Inc: Profile and Biography - Bloomberg Markets Bloomberg TV+ Bloomberg Surveillance Bloomberg Surveillance with Tom Keene, Jonathan Ferro & Lisa Abramowicz. By May 2020, the travel company had raised more than $3.2bn in funding with $1.2bn coming from the private equity groups Apollo Global Management and Silver Lake who were temporarily given seats on the board. We use He has invested in a number of private companies, including Reddit, Inc., which operates a social sharing and aggregation website, and Helion Energy, Inc. and Oklo, Inc., which are both developing clean energy solutions. Mr. Altman is the Chief Executive Officer and a member of the Board of Directors of OpenAI an organization dedicated to ensuring artificial intelligence benefits all of humanity. While at American Express,Rathiwas named Top Woman in Cloud Innovation in 2014, and Most Influential Women in Payments in 2015. Ms. Clinton also currently serves on the Board of Directors of IAC, The School of American Ballet, Clover Health and Nurx Inc.; the Board of Overseers of the Weill Cornell Medical College and the Columbia University Mailman School of Public Health; the Board of Trustees of the Africa Center; and as Co-Chair of the Advisory Board of the Of Many Institute at New York University. We're also pushing on the brand front. 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. Kern is in Las Vegas this week to publicly launch a fresh strategy: to focus more on offering its technology and marketing heft to other travel companies than being an online travel booking site with multiple brands. 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. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Do they come into my room and clean it, or do they wear masks at the hotel?" He currently serves on the Board of Directors of all three companies and as Chairman of Helion and Oklo. What was the first leadership lesson you learnt? Mr. Kern owns over 1,585 units of Expedia Inc stock worth over $172,717 and over the last 18 years he sold EXPE stock worth over $0. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. from Boston College and an M.B.A. from St. John Fisher College. Peter Kern, Expedia Group I think the U.S. will stay a steadfast and strong market for us. Kern became Expedia Group CEO during the early days of the pandemic in April 2020. His salary was around. Mr. Khosrowshahi has served as the Chief Executive Officer of Uber Technologies, Inc. since August 2017. Ms. Menendez Cambo holds a J.D. I think '22 into '23 will be a great period for the industry, and I hope the world gets to travel again. New Reality With is brought to you by Salesforce. 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. "I don't see [the metaverse] as a competitive threat . Expedia Group CEO Peter Kern told CNBC on Friday he's not worried about customers abandoning actual travel for a virtual-reality alternative. Keep abreast of significant corporate, financial and political developments around the world. and a law degree from Pepperdine University. 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. All Rights Reserved. In another, he reflected on a mountain trek on the anniversary of the September 11 terror attacks. Mr. Kern also serves on the boards of several private companies. Transcript : Expedia Group, Inc., Q2 2022 Earnings Call, Aug 04, 2022. from Cornell University and a J.D. and other data for a number of reasons, such as keeping FT Sites reliable and secure, For cost savings, you can change your plan at any time online in the Settings & Account section. We've talked about how we're going to bring the loyalty programs together so that customers can use that currency across products. After all, Kern says, people dont put pictures of their vacuum cleaner on their refrigerator but of their favourite trip to Italy or Singapore or Thailand., Expedias Peter Kern: Be straight with your people about how you feel, West Virginia Gov. Mr. Dolgen holds a B.S. 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. 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. 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. One of his methods was sending out semi-regular videos from his wood-clad Seattle home. . Since June 2017, Mr. Dubrugas has served on the Board of Directors of MercadoLibre, Inc., a leading Latin American e-commerce technology platform. Continue reading your article witha WSJ subscription, Already a member? 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. Expedia burned through cash in issuing refunds. Organising to succeed has a cost. Prior to joining InterMedia, Mr. Kern was Senior Managing Director and Principal of Alpine Capital LLC. He also managed labor relations for Telemundo Network, Studio, International, cable operations, and owned and operated stations throughout the U.S. and Puerto Rico. We had this moment where the U.S. opened, and now it's a little clumsy again. Rathihas extensive technology and engineering experience and has spent most of her career developing and building platforms and products for emerging technologies. Gieselman is an inspiring, transformational leader with more than 30 years experience, building award winning marketing teams across consumer products, retail, media and tech. It was a precarious moment: Calls to the company's call. Expedia CEO Peter Kern speaks to Yahoo Finance. Prior to joining InterMedia, Mr. Kern was Senior Managing Director and Principal of Alpine Capital LLC. Expedia Group used to be like a sports team where the athletes were competing against each other rather than using the same game plan. 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. Khosrowshahi worked at Allen & Company LLC from 1991 to 1998, where he served as Vice President from 1995 to 1998. Barry Diller is the Chairman and Senior Executive of IAC and the Chairman and Senior Executive of Expedia Group. On top of that, environmental concerns and remote working have caused companies to cut travel budgets. Mr. Kern holds a B.S. We were never purpose-built that way -- we had a bunch of stacks that did their own things. Allen & company LLC from 1991 to 1998, where he served as President... From his wood-clad Seattle home Inc., Q2 2022 Earnings call, Aug 04, 2022. from Cornell and. Some he read bedtime stories to the company & # x27 ; t see [ the ]! 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