Priceline names Glenn Fogel as new CEO
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Priceline named a new chief executive on Thursday, eight months after its previous head Darren Huston resigned over a personal relationship with an employee.
The online travel company said Glenn Fogel, a 16-year group veteran and currently head of strategy and executive president of corporate development, will take over on January 1.
Current interim CEO Jeff Boyd will return to his role as the board’s chairman.
“Glenn knows our global business inside and out, and he has been a key player in almost all of the major strategic initiatives for The Priceline Group over the last 16 years,” said Mr Boyd. “He was a primary driver in key acquisitions including Active Hotels, Booking.com and Agoda.com, which have created strong growth opportunities for the group and favorable returns for our shareholders.”
Mr Fogel’s appointment comes just a month after Priceline unveiled a near 60 per cent drop in third=quarter profit. Results for the quarter was hit by the $941m writedown it was forced to take on OpenTable, the reservations company it purchased for $2.6bn in 2014.
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