Investing.com – Shares of Expedia surged in midday trade on Wednesday after the company announced that its chief executive and its financial head have resigned over disagreements with the board.
The resignation was due to a disagreement over business strategy, Chairman Barry Diller said in a statement.
Diller will oversee the company along with Vice Chairman Peter Kern until replacements for CEO Mark Okerstrom and CFO Alan Pickerill can be found. He also said he will purchase additional shares in the travel company in a show of good faith.
Expedia (NASDAQ:) jumped 6.8% in midday trade.
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