Seattle just scored a major tech money man. Expedia Group has poached Derek Andersen, the finance chief at Snapchat parent Snap Inc., to become its new chief financial officer, with the travel giant planting him at its Seattle headquarters starting May 11.
According to a Form 8‑K filed with the U.S. Securities and Exchange Commission, Expedia said Andersen will officially take over as CFO on May 11, while current finance head Scott Schenkel will step down that same day. Schenkel will stay on through the company’s first‑quarter earnings call on May 7 and is set to depart on May 16. The filing states that Schenkel’s exit is not the result of any disagreement with the company. U.S. Securities and Exchange Commission
Seattle Hire, Tech Pedigree
Expedia said Andersen will report directly to CEO Ariane Gorin and lead the company’s global finance organization from its Seattle base, putting him at the center of the company’s strategy on margins, spending and dealmaking.
Local business reporters were quick to note that Andersen arrives with a heavyweight tech résumé. As detailed by the Puget Sound Business Journal, he has spent years as Snap’s finance lead and previously held senior finance roles at Amazon, giving him a hybrid background in big tech and consumer platforms that Wall Street tends to scrutinize closely.
Snap Confirms Andersen’s Exit
On the other end of the move, Snap has been busy explaining the departure to its own investors. The company said in a Form 8‑K that Andersen notified Snap on April 17 that he planned to leave for a new opportunity and that his last day is expected to be May 8. The filing adds that Snap intends to appoint Doug Hott as its next CFO, and it notes that Andersen’s decision did not stem from any disagreement with Snap. U.S. Securities and Exchange Commission
The Pay And Perks
Expedia is not bringing Andersen north on the cheap. Coverage of the company’s filing shows his compensation package includes a $1,000,000 base salary and a $2,500,000 cash signing bonus that will be paid out in installments. On top of that, he is in line for an initial restricted stock award valued at $17,000,000 that will vest over time.
The company is also helping cushion the move with a monthly housing allowance of $30,000 for up to 13 months and home sale assistance. The deal includes severance protections and a $10,000,000 annual equity target, and Expedia says Andersen will be based in Seattle with a commitment to fully relocate no later than July 2027. MarketScreener
Why The Timing Matters
The finance handoff lands just before Expedia’s May 7 earnings call, which gives Andersen very little runway before investors start peppering the company with questions about performance. The announcement briefly put pressure on Expedia’s stock, a reminder that Wall Street gets twitchy whenever there is turnover in the C‑suite.
As Investing.com noted, investors will be watching closely to see how the new CFO talks about margin expansion and capital allocation once he is in the seat. Andersen is slated to start on May 11 and assume CFO duties that day, while Schenkel’s last day is May 16. Expect the first real glimpse of Andersen’s playbook when he begins appearing at investor events after the transition is complete.
