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Will Priceline (PCLN) Thrive Under New CEO Glenn Fogel?
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The Priceline Group Inc. named Glenn Fogel as its new Chief Executive Officer (CEO), effective Jan 1, 2017. Glenn Fogel is currently the company’s Head of Strategy and Planning, and Executive Vice President of Corporate Development.
Glenn Fogel will succeed Darren Huston who had to step down from his position as CEO of Priceline in April, following an internal investigation on his personal conduct with a female employee.
Jeff Boyd, who is the interim CEO of Priceline since then, will now assume the role of Executive Chairman of the Board of Directors.According to him, “Glenn knows our global business inside and out, and he has been a key player in almost all of the major strategic initiatives for The Priceline Group over the last 16 years. I am confident Glenn is the right choice to lead the business through its next chapters, and I look forward to working with him.”
Shares of Priceline Group have been steadily treading higher on a year-to-date basis. The stock generated a return of 16.42% compared with the Zacks Electronic Commerce industry’s gain of 6.99%.
What Lies Ahead for Glenn Fogel
During his tenure, Fogel’s responsibilities have gradually expanded to several leadership roles.He also took up additional roles as the head for global corporate strategy, worldwide mergers and acquisitions, business development initiatives and strategic alliances over the years, helping the company in its journey of sustained global growth.
Priceline’s growth prospects look encouraging with a diversified portfolio of brands covering hotel rooms, airline tickets, rental cars, vacation packages and cruises, among others. Amid all the opportunities, Fogel inherits the task of dealing with several challenges such as stiff competition, weaker ADRs, macro headwinds, increasing advertising spend and occupancy tax-related litigation issues.
We look forward to seeing whether the new CEO keeps the growth momentum alive for Priceline.
Cognex Corporation delivered a positive earnings surprise of 24.92% in the trailing four quarters.
Itron, Inc. delivered a positive earnings surprise of 30.55%, on average, in the trailing four quarters.
TiVo Corporation delivered a positive earnings surprise of 97.76%, on average, in the trailing four quarters.
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Will Priceline (PCLN) Thrive Under New CEO Glenn Fogel?
The Priceline Group Inc. named Glenn Fogel as its new Chief Executive Officer (CEO), effective Jan 1, 2017. Glenn Fogel is currently the company’s Head of Strategy and Planning, and Executive Vice President of Corporate Development.
Glenn Fogel will succeed Darren Huston who had to step down from his position as CEO of Priceline in April, following an internal investigation on his personal conduct with a female employee.
Jeff Boyd, who is the interim CEO of Priceline since then, will now assume the role of Executive Chairman of the Board of Directors.According to him, “Glenn knows our global business inside and out, and he has been a key player in almost all of the major strategic initiatives for The Priceline Group over the last 16 years. I am confident Glenn is the right choice to lead the business through its next chapters, and I look forward to working with him.”
Shares of Priceline Group have been steadily treading higher on a year-to-date basis. The stock generated a return of 16.42% compared with the Zacks Electronic Commerce industry’s gain of 6.99%.
What Lies Ahead for Glenn Fogel
During his tenure, Fogel’s responsibilities have gradually expanded to several leadership roles.He also took up additional roles as the head for global corporate strategy, worldwide mergers and acquisitions, business development initiatives and strategic alliances over the years, helping the company in its journey of sustained global growth.
Priceline’s growth prospects look encouraging with a diversified portfolio of brands covering hotel rooms, airline tickets, rental cars, vacation packages and cruises, among others. Amid all the opportunities, Fogel inherits the task of dealing with several challenges such as stiff competition, weaker ADRs, macro headwinds, increasing advertising spend and occupancy tax-related litigation issues.
We look forward to seeing whether the new CEO keeps the growth momentum alive for Priceline.
PRICELINE.COM Price and Consensus
PRICELINE.COM Price and Consensus | PRICELINE.COM Quote
Stocks to Consider
Currently, Priceline Group has a Zacks Rank #3 (Hold). Some better-ranked stocks in the industry are Cognex Corporation (CGNX - Free Report) , TiVo Corporation and Itron, Inc. (ITRI - Free Report) , sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Cognex Corporation delivered a positive earnings surprise of 24.92% in the trailing four quarters.
Itron, Inc. delivered a positive earnings surprise of 30.55%, on average, in the trailing four quarters.
TiVo Corporation delivered a positive earnings surprise of 97.76%, on average, in the trailing four quarters.
The Best Place to Start Your Stock Search
Today, you are invited to download the full list of 220 Zacks Rank #1 ""Strong Buy"" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 ""Strong Sells"" and other private research. See these stocks free >>