Expedia Group has announced the appointment of Derek Andersen, former chief financial officer of Snap Inc., as its new CFO, effective May 11. The move comes as the online travel giant prepares to report first-quarter earnings next month, with shares of Expedia (EXPE) dropping 5.4% on Thursday, trailing competitors such as Booking Holdings (BKNG), Tripadvisor (TRIP), and MakeMyTrip (MMYT).
Andersen will replace Scott Schenkel, who has served as CFO for the past 16 months. Schenkel will remain with the company through the earnings call scheduled for May 7 and will officially depart on May 16. Expedia disclosed in a regulatory filing that the transition was mutually agreed upon on April 17 and was not related to any disagreements over operations, accounting policies, or financial reporting.
The timing of the leadership change is particularly notable as investors are closely monitoring Expedia's performance amid ongoing cost pressures, margin targets, and demand trends. In February, the company projected first-quarter gross bookings between $34.6 billion and $35.2 billion, with revenue expected in the range of $3.32 billion to $3.37 billion. The Seattle-based parent company of Expedia, Hotels.com, and Vrbo is set to report results on May 7.
Andersen, 48, brings extensive experience in finance roles at technology-driven companies. He served as Snap's CFO from May 2019 through April 2026 and prior to that held finance positions at Amazon, where he oversaw the digital video division. Under his new employment agreement with Expedia, Andersen will receive an annual salary of $1 million, a $2.5 million cash signing bonus, and an initial restricted stock grant valued at $17 million.
Expedia CEO Ariane Gorin praised Andersen as the "right financial executive" for the company, highlighting his background in tech-centric organizations. Andersen himself expressed enthusiasm about the opportunity, citing Expedia's "strong assets" including its technology platform, consumer brands, and sizable business-to-business travel unit, which reported a 24% increase in gross bookings during the fourth quarter.
This appointment marks the third CFO to work under Gorin since she became CEO less than two years ago, according to Skift. The frequent turnover in the finance ranks may raise concerns among some investors, especially with the upcoming earnings report serving as a critical test for the company's growth trajectory.
Expedia faces intensifying competition from Booking.com, Airbnb (ABNB), and emerging AI-powered travel platforms. In its annual filing, the company identified generative and agentic AI—digital assistants capable of searching, planning, and booking trips—as a potential threat that could heighten competition, reduce direct bookings, and increase marketing costs if travelers shift to alternative platforms.
Despite these headwinds, Expedia started the year on a solid footing. In the fourth quarter, gross bookings and revenue each rose 11% year-over-year, while booked room nights increased 9%. The business-to-business segment, which partners with airlines, hotels, and other travel providers, posted a 24% jump in gross bookings, offering a buffer against any potential softening in consumer travel demand.
The CFO transition carries inherent risks: it could divert attention from the upcoming earnings release or be interpreted as a red flag by the market, even though Expedia has stressed the amicable nature of Schenkel's departure. For Andersen, the immediate task is clear: he must demonstrate that travel demand, profit margins, and Expedia's AI strategy can remain resilient in a highly competitive landscape.
