The Priceline Group has named Glenn Fogel its new CEO, effective Jan. 1.
The company is currently operating under interim CEO Jeff Boyd, who is also the chairman of the board. When Fogel assumes the CEO position, Boyd, who has been chairman of the board since 2013, will be named executive chairman of the board of directors.
Boyd, who had been the company's CEO from 2002-2013, has been acting as interim CEO since April when former CEO Darren Huston resigned. According to a statement from Priceline, Huston resigned after an investigation "surrounding a personal relationship that Mr. Huston had with an employee of the company who was not under his direct supervision."
Fogel is currently Priceline's head of strategy and executive vice president of corporate development. He has been with the company for 16 years, holding the role of head of strategy and planning since 2010, and executive vice president of corporate development since 2009.
Before his time at Priceline, he was in the field of investment banking and asset management. He held positions at various firms including Morgan Stanley.
Boyd said in a statement that Fogel was a driver in key Priceline acquisitions like Booking.com and Agoda.com.
"I have worked alongside him for 16 years, and I can attest to Glenn's intimate knowledge of our people, our business models, our company culture and our changing business landscape, all critical attributes for the next leader of the group," Boyd said.
James Guyette, lead independent director and head of the Priceline board's CEO search committee, said Fogel was chosen after "an extremely thorough search process."
With Fogel's promotion, the corporate development team that reported to him will now report to CFO Dan Finnegan.