Liberty Tripadvisor Holdings, Inc. Announces Executive Changes
March 30, 2021 at 06:13 am EDT
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On March 29, 2021, the increase to the authorized size of the board of directors of Liberty TripAdvisor Holdings, Inc. became effective and the size of the Board was increased by two director seats. Effective March 29, 2021, Michael Gregory O'Hara resigned as the Series A Preferred Threshold Director of Liberty TripAdvisor and subsequently the Board appointed Mr. O'Hara, Founder and Senior Managing Director of Certares, as a Class III member of the Board to fill one of the New Board Seats with a term expiring at Liberty TripAdvisor's 2021 annual meeting of stockholders. The Board also determined that Mr. O'Hara would continue as its Vice Chairman. Following Mr. O'Hara's appointment, the Board has a total of seven directors, with the Series A Preferred Threshold Director seat to remain vacant pursuant to the agreed waiver contained in the Stock Repurchase Agreement, dated as of March 22, 2021 between Liberty TripAdvisor and Certares LTRIP LLC, (Certares), and the other New Board Seat to be filled with a diverse candidate by the Board as soon as practicable after the First Closing (as such term is defined in the Repurchase Agreement) pursuant to the Repurchase Agreement.
Liberty TripAdvisor Holdings, Inc., through its subsidiary, Tripadvisor, Inc. (Tripadvisor), provides a travel platform, aggregating reviews and opinions from its community of travelers about accommodations, restaurants, experiences, airlines and cruises throughout the world. Tripadvisor operates through three segments: Brand Tripadvisor, Viator and TheFork. The Brand Tripadvisor segment includes Tripadvisor-branded hotels, media and advertising, and Tripadvisor experiences and dining business. The Viator segment provides an online marketplace that allows travelers to research and book tours, activities and attractions in popular travel destinations across the globe through its Viator branded platform, which includes Website, mobile Web, and mobile app. TheFork segment offers travelers and diners an online marketplace that provides access to approximately 55,000 restaurants to discover and book reservations in 11 countries across the United Kingdom, and western and central Europe.