Transcript : Expedia Group, Inc., Q2 2022 Earnings Call, Aug 04, 2022. 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. offers FT membership to read for free. As of 15 February 2023 he still owns at least 1,585 units of Expedia Inc stock. (Expedia Group Photo) Expedia Group, the Seattle-based online travel giant, posted improved results for the second quarter, but cautioned that the resurgence of the . 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. Its most akin to how I see my challenge at Expedia. The hotel business has kind of followed the trends of the world. Expedias rival Booking.com had higher profits and half the fixed cost base. . New Reality With is brought to you by Salesforce. Email*. Stay informed and spot emerging risks and opportunities with independent global reporting, expert His net worth has been growing significantly in 2021 . 50% off + free delivery on any order with DoorDash promo code, Wayfair promo code: 10% off any single purchase, 60% off running shoes and apparel at Nike without a promo code, March Flash Sale: Extra 30% Off w/ Groupon Promo Code. The group is also taking a new direction. Prior to founding Gemini Associates, Mr. Kern was at the Home Shopping Network and Whittle Communications. 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As the Chief Executive Officer and Vice Chairman of the Board of Expedia Inc, the total compensation of Peter Kern at Expedia Inc is $1,924,500. Earlier in his career, Mr. Altman co-founded Loopt, Inc., a provider of mobile location-based services, and served as its Chief Executive Officer until it was acquired by Green Dot Corporation in March 2012, after which he held a number of senior executive positions at Green Dot, including Executive Vice President, Mobile Products and Technology, through December 2013, and served as a member of its Board of Directors from March 2013 through April 2016. Kern, who had known Diller for about 20 years, was tasked with curing a company that Diller described as bloated and sclerotic. and other data for a number of reasons, such as keeping FT Sites reliable and secure, 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. All Rights Reserved. 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. That's where we're trying to go. Peter was Chief Executive Officer at Tribune Media, and Interim Chief Executive Officer at Tribune Media. I think the biggest challenge for OTAs, generally, is taking care of the customer through Covid. 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. 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. In February this year, Expedia said it had achieved record fourth quarter adjusted earnings despite ongoing uncertainty in the travel industry. 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. 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. 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. She currently serves on the board of directors of Adecco Group, and is on the advisory council of the Royal Philharmonic Orchestra in London. The estimated Net Worth of Peter M Kern is at least $2.1 Million dollars as of 15 February 2023. Prior to these efforts, Ms. Clinton worked as an associate at McKinsey & Company, a consulting firm, from August 2003 to October 2006, and as an associate at Avenue Capital Group, an investment firm, from October 2006 to November 2009. Compare Standard and Premium Digital here. Ms. Whalen also serves on Expedia Groups Board of Directors, a position she has held since 2019. Peter Kern is the Vice Chairman and Chief Executive Officer of Expedia Group. From October 1984 to April 1992, Mr. Diller served as Chairman and Chief Executive Officer of Fox, Inc. and was responsible for the creation of Fox Broadcasting Company in addition to Fox's motion picture operations. What will ChatGPT mean for the travel industry? Gieselman holds a B.A. Mr. Altman has also been the General Partner of Hydrazine Capital, an early-stage venture capital firm, since April 2012. Expedia Group used to be like a sports team where the athletes were competing against each other rather than using the same game plan. Michael co-founded the National Latina/o Law Students Conference and is an advocate for the underrepresented, volunteering his personal time to advise those in need on immigration rights and social and racial justice issues. She currently serves as an advisor to LiveSafe, Inc. Ms. Clinton holds a B.A. Mr. Kern holds a B.S. Evidence from airlines such as United, which said in April that it expected record quarterly revenues in the three months to the end of June, would suggest as much. I think '22 into '23 will be a great period for the industry, and I hope the world gets to travel again. So, for every loser, we have a winner or, hopefully, two winners. Leisure has, weirdly, started to replace business in the front of the plane. 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. Expedia leverages its platform and technology capabilities across an extensive portfolio of businesses and brands to orchestrate the movement of people and the delivery of travel experiences on both a local and global basis. Before joining Tribune, Michael was Vice President of Labor Relations at NBCUniversal, where he supported network news and sports, owned and operated stations and late-night entertainment programs. Most recently, Michael served as Senior Vice President of Human Resources and Chief Labor & Employment Counsel at Tribune Media Company, where he led all Human Resources functions including benefits, compensation, talent acquisition, HRIS, learning & development, as well as diversity and inclusion efforts. 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 most recently served as CTO for Verizon Media. and a law degree from Pepperdine University. 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. She is also a Certified Public Accountant and holds both a B.S. When when places open . That includes $157 million in stock awards and $137 million in option awards. In some he read bedtime stories to the children of frazzled staff. I think the summer of '22 will probably be the biggest travel summer of all time, even with some countries constrained. Prior to Apple, Gieselman served as Senior Vice President of Marketing at DirecTV, one of the world's largest television distributors, having previously served in senior marketing roles at Sears Holding Corporation, Home Shopping Network and Ray-Ban Sunglasses. . degree from the Wharton School at the University of Pennsylvania. For a full comparison of Standard and Premium Digital, click here. Where are the biggest pressure points in their businesses and the wider industry that might still emerge? Vice Chairman and Chief Executive Officer, Expedia Group, Inc. Chief Executive Officer, Uber Technologies, Inc. Deputy General Counsel, SoftBank Group International. All other trademarks are property of their respective owners. Beverlys core areas of focus include strategy development and sustainable growth, overseeing daily operational activities, and fostering BECUs culture of promoting the financial well-being of its members and communities. . Expedia, Expedia Group, Match, Barry Diller, and Interactive Corp Liberty. Vice Chairman and Chief Executive Officer. Kern is a Managing Partner of InterMedia Partners VII, LP, a private equity firm. 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. personalising content and ads, providing social media features and to Prior to joining Fox, Inc., Mr. Diller served for ten years as Chairman of the Board and Chief Executive Officer of Paramount Pictures Corporation. Since June 2017, Mr. Dubrugas has served on the Board of Directors of MercadoLibre, Inc., a leading Latin American e-commerce technology platform. Prior to joining Expedia Group, Mr. Dzielak was a partner at the law firm of Preston, Gates and Ellis, LLP (now K&L Gates LLP), where his practice focused on commercial and intellectual property litigation. 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Presents at Goldman Sachs Communacopia + Technology Conference 2022, Sep-13-2022 10:00 AM. . Since December 1992, beginning with QVC, Mr. Diller has served as chief executive for a number of predecessor companies engaged in media and interactivity prior to the formation of IAC. On Halloween 2020, Expedia chief executive Peter Kern was wearing moose antlers and reading bedtime stories over Zoom to his employees children. Solugen Bio has built a chemical plant that produces all manner of chemical-based products using bio-based feedstock instead of fossil fuels. cookies We're less worried about playing defense, which, you know, six months ago, nine months ago, I couldn't say. Chairman & Sr. Exec.. Peter's mailing address filed with the SEC is C/O EXPEDIA GROUP, INC., 1111 EXPEDIA GROUP WAY W., SEATTLE, WA, 98119. Kern's discussion with PhocusWire's Kevin May will broadcast LIVE on Wednesday, July 15, 2020. How have company chiefs dealt with the coronavirus outbreak? Expedias then-management blamed the encroachment of Google into travel booking but its chair, the media mogul Barry Diller, said the business had become all play and no work. From February 2014 through March 2019, he served as President of Y Combinator, a provider of advice and seed financing for startups. Javascript is required for this site to display correctly. Over the last 18 months, there's been a lot of putting out fires, dealing with new fires, etc. Prior to joining InterMedia, Mr. Kern was Senior Managing Director and Principal of Alpine Capital LLC. Expedia Group Vice Chairman and CEO Peter Kern's 2021 total compensation was $296 million. 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. 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. 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. You have to create an environment where the team can deliver, he says. 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. Prior to Gap,Rathiwas CIO for Enterprise Growth at American Express, where she managed end-to-end platform technology, infrastructure and operations for the suite of American Express pre-paid products. But I wouldn't say, universally, we're as strong as we want. Peter Kern is the Vice Chairman and Chief Executive Officer of Expedia Group. 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. This copy is for your personal, non-commercial use only. The stock and option awards represent the fair value at the grant date, and wont necessarily be the actual value when the awards vest. Peter M. Kern serves as Chief Executive Officer, Vice Chairman of the Board of the Company. 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. 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. Premium access for businesses and educational institutions. 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. Beverly holds a Master of Business Administration with distinction from Harvard Business School and graduated summa cum laude with a Bachelor of Science in business from Florida A&M University. from New York University. 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. On average, Expedia Inc executives and independent directors trade stock every 11 days with the average trade being worth of $5,901,815. 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 joined Expedia Group in 2005. Nayarit has a lot to offer luxury travelers, Nevada's congressional delegation reacts to Biden's 'Junk Fee' proposal, Giada De Laurentiis and Oceania Cruises, a delicious combination, Despite an energy crisis, lights are staying on for South Africa's tourists, Uniworld Boutique River Cruise Collection, Executive view 2022: Peter Kern of Expedia Group, Executive view for 2022: Stephanie Linnartz of Marriott International, Executive view for 2022: Orlando Ashford of Azamara, Executive view 2022: Becky Powell, Global Travel Collection. 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. commentary and analysis you can trust. 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