Expedia is replacing its CEO and CFO amid strategy disagreement.
Wednesday that CEO Mark Okerstrom and CFO Alan Pickerill will be stepping down from their roles at the company.In a statement, Barry Diller, chairman of Expedia's board of directors, said the move was being made as a result of a disagreement over strategy.
"Ultimately, senior management and the Board disagreed on strategy. Earlier this year, Expedia embarked on an ambitious reorganization plan with the goal of bringing our brands and technology together in a more efficient way," Diller said in a statement. "This reorganization, while sound in concept, resulted in a material loss of focus on our current operations, leading to disappointing third quarter results and a lackluster near-term outlook.
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