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Mr. Khosrowshahi joined IAC in 1998 as Vice President of Strategic Planning and was promoted to Senior Vice President in 1999. Its shares plummeted more than 27 per cent as a result. The estimated Net Worth of Peter M Kern is at least $2.1 Million dollars as of 15 February 2023. Vrbo did great and continues to be super strong. The company's CEO Peter Kern explains. Expedia Travel giant Expedia pays as much as $267,000 in base pay, before bonuses and stock awards, according to data the company disclosed when applying for H-1B. I think we'll be coming out of this meaningfully improved as an industry, starting next summer. Prior to joining InterMedia, Mr. Kern was Senior Managing Director and Principal of Alpine Capital LLC. Expedia, Expedia Group, All Rights Reserved. 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. Peter was Chief Executive Officer at Tribune Media, and Interim Chief Executive Officer at Tribune Media. 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. 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. 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That its OK to make mistakes. 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. "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. The next guest on theNew Reality Withseries is Peter Kern, CEO and vice chairman at Expedia Group, one of the world's largest online travel companies. We're trying to play offense into what we think will be a recovery. In a quarterly trading update that November, the travel groups net profit had fallen 22 per cent from a year before, missing Wall Street forecasts despite an increase in marketing spend. Rathi holds a Masters in Computer Engineering from Santa Clara University, California. Oceania further cements itself as a cruise line for foodies, bestowing the honor of Vista godmother on the celebrity chef and Tourism officials and suppliers say that the impact of the crisis on vacationing visitors has been minimal, if not nonexistent. Big-ticket items such as holidays look a risky bet. You may change or cancel your subscription or trial at any time online. Expedia burned through cash in issuing refunds. The hotel business has kind of followed the trends of the world. . In March 1983, in addition to Paramount, Mr. Diller became President of the conglomerate's newly formed Entertainment and Communications Group, which included Simon & Schuster, Inc., Madison Square Garden Corporation and SEGA Enterprises, Inc. Peter Kern is 52, he's been the Chief Executive Officer and Vice Chairman of the Board of Expedia Inc since 2020. That includes $157 million in stock awards and $137 million in option awards. Kern has needed a measure of calm throughout the two years he has been Expedias chief executive. Leisure has, weirdly, started to replace business in the front of the plane. Prior to joining InterMedia, Mr. Kern was Senior Managing Director and Principal of Alpine Capital LLC. degree from the Wharton School at the University of Pennsylvania. 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. I was very good at putting my own sons to sleep that way.. We think that generates a huge amount of opportunity for our B2C and B2B businesses. All Rights Reserved. There are opportunities to use machine learning and other tools to make the experience better and better and better and iterate on it instead of iterating on narrow pieces of it. Mr. Jacobson is a founding partner at the law firm of Hansen, Jacobson, Teller, Hoberman, Newman, Warren, Richman, Rush, Kaller & Gellman, L.L.P., where he has practiced entertainment law for the past 32 years. -- that's part of our bread and butter, and that's been fairly restricted. Fri, Feb 10 202311:47 AM EST. organisation 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. But, like the ebb and flow of omicron, some countries put up restrictions, others change the rules, and the traveler thinks, "What does it mean to me, can I cancel, can I not?" Skift Travel Health Index: January 2023 Highlights, Online Travel Booking Trends During the Pandemic. I knew what we needed to deliver and had negotiated more than my share of those deals, Kern says. He serves on the boards of The Coca-Cola Company and MGM Resorts International. Expedia is planning for a boom in travel as more people get vaccinated. According to Peter Kern, the vice chairman and CEO, his . Organising to succeed has a cost. In addition to the philanthropic work accomplished through his position as a director of The Diller-von Furstenberg Family Foundation, Mr. von Furstenberg also serves on the Board of Directors of Friends of the High Line. 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. Mr. Peter M. Kern is a President & Chief Executive Officer at Tribune Media Co., a Chairman-Supervisory Board at trivago NV, a Chairman at Gato Investments LP, a Chairman at Hemisphere Media Group, Inc., a Vice Chairman & Chief Executive Officer at Expedia Group, Inc., a Co-Founder & Managing Partner at InterMedia Advisors LLC and a Managing Partner at InterMedia Partners VII LP. Expedia Group Only a quarter of the world's population is fully vaccinated against COVID 19. . Mr. Kern holds a B.S. His salary was around $850,000. Peter Kern became chief executive officer of Expedia Group Inc. last April, during the travel industrys worst crisis in decades. We've always been stronger in big destination cities, Vegas, things like that, and some got hit during Covid. Last updated: 17 February 2023 at 6:45pm EST. There are 3 executives at Expedia Inc getting paid more, with BarryDiller having the highest compensation of $6,392,070. Mr. Kern is a Managing Partner of InterMedia Partners VII, LP, a private equity firm. https://www.wsj.com/articles/travel-boom-coming-expedia-ceo-says-hotels-will-come-screaming-back-11618664400. The total compensation amounts were included in proxy statements last month. Over the last 18 years, insiders at Expedia Inc have traded over $84,258,203 worth of Expedia Inc stock and bought 812,255 units worth $52,634,804 All other trademarks are property of their respective owners. Prior to joining InterMedia, Mr. Kern was Senior Managing Director and Principal of Alpine Capital LLC. 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. Wife: Not Available: Sibling: Not Available: Children: Not Available : Peter Kern Net Worth. Gorin also oversaw Egencia, the leading digital travel management platform, before its sale to American Express Global Business Travel in 2021. Despite assuming leadership of one of the world's largest travel brands in the midst of a global pandemic, Expedia Group CEO Peter Kern says there wasn't much in 2020 that took him by surprise - except "I didn't have to wear pants to work." Speaking at his first Phocuswright Conference since replacing former CEO Mark Okerstrom in April, Kern says he sees the events of this year as . 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. Mr. Kern has served on the Board of Directors of Tribune Media Company since October 2016, where he currently also serves as Chief Executive Officer, as Chairman of the Board of Directors of Hemisphere Media Group, Inc., a publicly-traded Spanish-language media company, since April 2013, and since 2016, as a member of Supervisory Board of trivago N.V., a majority-owned subsidiary of Expedia Group. Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. Rathihas extensive technology and engineering experience and has spent most of her career developing and building platforms and products for emerging technologies. Compare Standard and Premium Digital here. 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). But he was suddenly propelled into running the company after his predecessor Mark Okerstrom and Expedias then-chief financial officer walked out in December 2019 following a boardroom dispute. Prior to founding Gemini Associates, Mr. Kern was at the Home Shopping Network and Whittle Communications. For non-personal use or to order multiple copies, please contact Mr. Dolgen holds a B.S. He said Expedia Group would make tech improvements to help Vrbo to take . Kern's discussion with PhocusWire's Kevin May will broadcast LIVE . 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. 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. Mr. Peter M. Kern is a President & Chief Executive Officer at Tribune Media Co., a Chairman-Supervisory Board at trivago NV, a Chairman at Gato Investments LP, a Chairman at Hemisphere Media Group, Inc., a Vice Chairman & Chief Executive Officer at Expedia Group, Inc., a Co-Founder & Managing Partner at InterMedia Advisors LLC and a Managing Peter Kern is the Vice Chairman and Chief Executive Officer of Expedia Group. 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 this change creates traveler pain and also creates company pain because you've got to service customers, and they're needing service at much more elevated levels. Beverlys career and leadership recognitions include American Bankers 23 People Who Will Matter in Banking in 2023, Black Enterprises Most Powerful Women in Corporate America, CardLinxs Top 20 Women in Digital Commerce, and the Kenneth A. Powell Award for Professional Achievement from the Harvard Business School African-American Alumni Association. Part of his efforts to make Expedia more competitive has been to push decision making down the ranks and allow people to make their own choices. It also doesn't create waste and may help fight the climate crisis. Gato Investments LP, managed by InterMedia Advisors, LLC completed the acquisition of remaining stake in Hemisphere Media Group, Inc. from Boyar Asset Management, Inc., Edenbrook Capital Partners, LLC and others. Mr. Khosrowshahi served as the Chief Executive Officer of IAC Travel, a division of IAC, from January 2005 to the IAC/Expedia Group Spin-Off date. 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. 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. Some questioned not only whether Expedia would survive but whether it was worth staying in the industry long term. Prior to founding Gemini Associates, Mr. Kern was at the Home Shopping Network and Whittle Communications. News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. We support credit card, debit card and PayPal payments. Prior to joining Fox, Inc., Mr. Diller served for ten years as Chairman of the Board and Chief Executive Officer of Paramount Pictures Corporation. From August 2010 until 2017, Ms. Banerjee served in various roles at a predecessor of JBGS (JBG), including as a Principal in the Investments Group and a member of the Management Committee. Expedia Group plans to do at least three things to grow its Vrbo business in 2023. Email*. 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. 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. 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. 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