Okerstrom has held the role of chief financial officer at Expedia since 2011 and received the promotion following the resignation of Dara Khosrowshahi, who left to become the boss at Uber.
During his time at Expedia, Okerstrom has overseen deals such as the acquisitions of Airbnb competitor HomeAway, acquiring the company for $3.9 billion in 2015.
Khosrowshahi said in a statement in the announcement: “Mark 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.
“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 centre at every step. I am incredibly excited to watch Expedia continue to flourish with his leadership.”
Khosrowshahi, who led the travel-booking site for 12 years, will continue to be a board member.
