Here’s Why Priceline Has Chosen Glenn Fogel As Its New CEO

by Trefis Team
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Priceline
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Effective January 1st 2017, Priceline Group’s current executive vice president and head of worldwide strategy and planning, Glenn Fogel will assume the position of the Group’s CEO. Priceline’s current interim CEO will assume the position of executive chairman. The company was in the search of a CEO since April 2016 after its then CEO Darren Huston resigned due to scandal. Below are some of the reasons why Fogel is one of the best fits for the position of Priceline’s CEO:

  • Fogel’s involvement in the most important strategic decisions of the company over the last 16 years give him a thorough understanding of Priceline’s global business.
  • His knowledge of the company’s business model, its cultural DNA, and the dynamics of the online travel market makes him best suited to assume the role of the CEO.
  • He played a key role during some of Priceline’s key acquisitions including Active Hotels, Booking.com, and Agoda.com, which are some of the biggest growth drivers for the company today. Booking.com is the world’s most popular online accommodation booking platform boasting of over 1 million properties across 93,000 locations.
  • Fogel is also known for his keen sense of foresight because when companies such as Expedia looked and passed on the option to acquire Bookings B.V. or Active Hotels, he grabbed the opportunity for Priceline. Not only are these some of the most important acquisitions for Priceline, but these are also considered to be among the best deals that has been historically done in the Internet industry. These acquisitions are the reason for Priceline’s exponential growth into becoming the global behemoth worth almost $75 billion.
  • Fogel believes that even though Priceline is the leading OTA in the world, it still has opportunities to grow and innovate. He expects to continue striving to grow the company under his leadership.

We can expect Priceline to further soar in the OTA domain under Fogel’s leadership. Additionally, with his history of choosing profitable entities for acquisition, we can expect the company to become more aggressive in taking over smaller entities. We believe Priceline might be able to take over newer initiatives and its offerings and services across segments can increase even further under Fogel’s leadership.

 

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Notes:

1) The purpose of these analyses is to help readers focus on a few important things. We hope such lean communication sparks thinking, and encourages readers to comment and ask questions on the comment section, or email content@trefis.com
2) Figures mentioned are approximate values to help our readers remember the key concepts more intuitively. For precise figures, please refer to our complete analysis for Priceline

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