Elaine Thompson/The Associated Press
Billionaire Mr. Diller, who is also chairman of Expedia’s former parent IAC/InterActiveCorp, said he will oversee the executive leadership team along with vice-chairman Peter Kern until the board finds a replacement. Mr. Diller, 77, also said he would purchase additional shares in Expedia in a show of “faith in and commitment to the company’s long-term future.”
“It raises the question - what did the board members see in the business in terms of levers and opportunities for 2020 that the management didn’t see?,” D.A. Davidson analyst Tom White said.