Expedia names CFO Mark Okerstrom as its new CEO

Expedia announced Mark Okerstrom as its new president and chief executive, replacing Dara Khosrowshahi who left the company to take the job at the ride-hailing firm Uber.

Okerstrom has been at Expedia since 2006. He was the senior vice president of corporate development for five years before taking over the CFO role in 2011. During that time, he’s overseen deals like its massive acquisition of Airbnb competitor HomeAway for $3.9 billion in 2015.

Okerstrom seems like a natural successor, given that he has overseen Expedia during its recent run-up on Wall Street as well as his long tenure at the company. “There was no other candidate that the board considered,” Expedia Chairman Barry Diller said in a statement.

“Mark (Okerstrom) has been by my side through every major milestone in this company for much of the last 11 years and I’m passing these reins into the best hands,” Khosrowshahi said. “He is a tireless, strategic, and steadfast leader who has pushed me to be my best self while having Expedia’s best interests front and center at every step. I am incredibly excited to watch Expedia continue to flourish with his leadership.”