Expedia Group Inc. (EXPE) announced the appointment of Derek Andersen, former chief financial officer of Snap Inc., as its new CFO, effective May 11. The move comes just ahead of the company's first-quarter earnings report and sent shares down 5.4% to $250.37 in afternoon trading.
Andersen, 48, spent nearly seven years as Snap's finance chief from May 2019 to April 2026, and previously served as vice president of finance at the social media firm. His background includes finance roles at Amazon.com Inc.'s digital video division and Fox Interactive Media. He will report directly to CEO Ariane Gorin, who praised Andersen's deep understanding of technology-driven businesses.
Outgoing CFO Scott Schenkel will remain through the May 7 earnings call and depart on May 16, leaving a brief nine-day overlap. Expedia emphasized that Schenkel's departure was not due to any disagreement over operations, accounting policies, or company procedures, as outlined in a regulatory filing.
Andersen's compensation package includes a $1 million base salary, a $2.5 million cash signing bonus, and $17 million in restricted stock units that vest over time. He is also eligible for annual equity awards targeting $10 million, plus relocation support if he moves to Washington state by July 2027.
The CFO change comes as online travel companies face heightened scrutiny over the impact of artificial intelligence on booking strategies. Analysts have warned that AI could disrupt search and itinerary generation, potentially altering competitive dynamics for Expedia and rivals like Booking Holdings (BKNG) and Airbnb (ABNB). On the day, Booking shares fell 1.5% and Airbnb slipped 1.6%, while Expedia's decline was more pronounced.
Expedia's portfolio includes well-known brands such as Expedia, Hotels.com, and Vrbo, as well as a business-to-business travel platform serving corporate clients. The new CFO will oversee finances across consumer travel, partner supply, advertising, and travel technology segments.
Despite the market jitters, TD Cowen raised its price target on Expedia to $285 from $260, maintaining a Hold rating. The analyst cited the company's strong positioning but noted uncertainty around the leadership transition and AI-related risks.
