Business

Expedia names new chief executive

Mark Okerstrom Image copyright Expedia
Image caption Mark Okerstrom joined Expedia in 2006

Internet travel company Expedia has named its chief financial officer to replace outgoing boss Dara Khosrowshahi, who is leaving to become chief executive at Uber.

Mark Okerstrom joined Expedia in 2006 and has been its financial leader since 2011.

He was the only candidate the company considered, said board chair Barry Diller.

Mr Diller said Mr Khosrowshahi would remain on the board.

"We all wish Dara Khosrowshahi the best good fortune as Uber's chief executive," he said in a statement.

At Uber, Mr Khosrowshahi inherits a company that has been rocked by scandals, including investigations by regulators, a trade secrets lawsuit and complaints of sexual harassment,

Co-founder Travis Kalanick resigned as chief executive in June under pressure from investors.

This month one of the company's largest investors, Benchmark Capital, also sued him for fraud. A judge said on Wednesday the next step for that lawsuit is private arbitration.

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