8-KLeadership Changes

Expedia Group, Inc. 8-K Report, Executive Changes (Dec 6, 2005)

Filed December 6, 2005For Securities:EXPE

Summary

Expedia, Inc. (EXPE) filed an 8-K on December 6, 2005, reporting a change in its Board of Directors. Gregory B. Maffei was elected as a director, effective November 30, 2005. Mr. Maffei's appointment is significant as he was nominated by Liberty Media Corporation, a major stockholder with contractual rights to nominate directors. This move could signal continued strategic alignment or influence from Liberty Media. Mr. Maffei brings a wealth of experience, including previous board service with Expedia, and executive roles at prominent companies such as Liberty Media, Oracle, 360networks, and Microsoft. His prior experience as Chairman of Expedia's Board from 1999 to 2002 is particularly noteworthy. Investors should monitor Mr. Maffei's contributions and any potential strategic shifts or governance discussions arising from his renewed involvement.

Key Highlights

  • 1Expedia appointed Gregory B. Maffei as a new director to its Board, effective November 30, 2005.
  • 2Mr. Maffei's nomination comes from Liberty Media Corporation, a significant stockholder with director nomination rights.
  • 3Mr. Maffei replaces Robert R. Bennett on the Board of Directors.
  • 4Mr. Maffei is expected to serve on the Compensation/Benefits Committee.
  • 5Maffei has extensive executive experience, including CEO-Elect of Liberty Media, and previous leadership roles at Oracle, 360networks, and Microsoft.
  • 6He is a former Chairman of Expedia's Board (1999-2002) and director (1999-2003), bringing prior familiarity with the company.
  • 7Maffei currently serves on the boards of Liberty Media, Electronic Arts, and Starbucks.

Frequently Asked Questions

Gregory B. Maffei is a seasoned executive with significant experience in the technology and media sectors. He was appointed as a director by Expedia's Board on November 30, 2005, as a nominee of Liberty Media Corporation, a major stockholder. His appointment is part of Liberty Media's contractual right to nominate directors, subject to certain stock ownership requirements.

Mr. Maffei is not new to Expedia. He previously served as a director from 1999 to 2003, including a term as Chairman of the Board from 1999 to 2002. His prior deep involvement with the company suggests a strong understanding of its business and strategic history.

Liberty Media Corporation holds a contractual right to nominate directors based on its stock ownership. Mr. Maffei's appointment as a designated nominee from Liberty Media indicates that Liberty continues to maintain a significant interest and likely exerts influence on Expedia's governance and strategic direction.

Mr. Maffei has a robust executive career. He was Chief Executive Officer-Elect of Liberty Media Corporation. Prior to that, he served as President and Chief Financial Officer of Oracle Corporation and as Chief Executive Officer of 360networks Corporation. He also spent seven years at Microsoft Corporation, where he was a Senior Vice President and Chief Financial Officer.