01—Abstract
Summary
Summary of the 8-K filed December 7, 2017. Cited figures are marked; the original filing is the authoritative source.
Expedia Group, Inc. (EXPE) announced a change to its Board of Directors on December 5, 2017, with the election of Courtnee Chun.
This appointment follows the resignation of Dr. John C. Malone, who stepped down to allow for a designee from Liberty Expedia Holdings, Inc. ("Liberty Expedia Holdings"). Ms. Chun's election is consistent with a governance agreement that grants Liberty Expedia Holdings the right to nominate directors based on its stock ownership in Expedia.
Ms. Chun brings a strong financial and investor relations background to the Expedia board. Her experience includes senior roles at Liberty Interactive Corporation and Liberty Media Corporation, as well as executive positions at Level 3 and New Global Telecom, Inc., where she served as CFO. Investors can view her compensation as standard for non-employee directors, as previously detailed in Expedia's 2017 Proxy Statement.
02—Key points
Key Highlights
- Courtnee Chun elected to Expedia's Board of Directors.
- Dr. John C. Malone resigned from the Board.
- Ms. Chun's election is a result of a governance agreement with Liberty Expedia Holdings, Inc.
- Liberty Expedia Holdings has the contractual right to nominate three directors, subject to stock ownership.
- Ms. Chun has significant experience in investor relations and as a former Chief Financial Officer.
- Ms. Chun's compensation will align with Expedia's standard director compensation policies.
- Ms. Chun has not been appointed to any Board committees at this time.
03—Questions
Frequently Asked Questions
Why did Dr. John C. Malone resign from the Board?
Dr. John C. Malone resigned to allow for the election of a designee from Liberty Expedia Holdings, Inc., as per the terms of a governance agreement.
What is Liberty Expedia Holdings' role in board appointments?
Liberty Expedia Holdings, a stockholder of Expedia, has a contractual right to nominate three directors to the Board, provided certain stock ownership thresholds are met. Courtnee Chun was nominated by Liberty Expedia Holdings.
What is Courtnee Chun's background and relevance to Expedia?
Ms. Chun has extensive experience in investor relations for Liberty Interactive and Liberty Media, and previously served as CFO for New Global Telecom. Her financial and executive leadership background is expected to be valuable to the Expedia board.
How will Ms. Chun be compensated?
Ms. Chun will be compensated according to Expedia's standard policies and practices for non-employee directors, which were previously disclosed in the company's 2017 Proxy Statement.
04—Continue