Expedia Chief Financial Officer Michael Adler is packing his bags, and stepping down after leading the Bellevue company’s financial operations for six years. No reason was given for the resignation in today’s SEC filing, but Adler does plan to stay with the online travel company through the spin-off of Trip Advisor. He’ll be replaced by Mark Okerstrom, the company’s senior vice president of corporate development.
“During his tenure, Mike helped drive a doubling of our GAAP earnings per share, effectively steered the company through the global financial crisis and positioned us with a rock-solid balance sheet as we approach the date of the TripAdvisor spin-off,” said Expedia CEO Dara Khosrowshahi in a statement. “We will miss his guidance, leadership and sense of humor and thank him for helping shape Expedia into the company that it is today.”
Okerstrom, who joined Expedia in 2006, previously worked at Bain & Company. Shares of Expedia were down slightly in trading today, with the company boasting a market value of $8.3 billion.