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Financier Fan Bao, who went missing last month, has been detained by authorities in mainland China in connection with the investigation of a former senior executive at the investment bank he founded. Standard Digital includes access to a wealth of global news, analysis and expert opinion. Any changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel. . From moonshots to vaccines, Washingtons efforts to boost specific industries work best with focused goals. Expedia Group CEO Peter Kern said the company is gearing up for a travel rebound in part by investing more heavily in Vrbo, a home-rental rival to Airbnb. The latest news about online travel delivered weekly to your inbox. Prior to assuming this role, Ms. Clinton served as a member of the Board of Directors of the Clinton Foundation from September 2011. So, for every loser, we have a winner or, hopefully, two winners. Expedia, the biggest player in international and big city travel, relies heavily on families looking to book hotels, flights and car rentals. Julie Whalen is Executive Vice President and Chief Financial Officer of Expedia Group. Mr. Peter M. Kern is a President & Chief Executive Officer at Tribune Media Co., a Chairman-Supervisory Board at trivago NV, a Chairman at Gato Investments LP, a Chairman at Hemisphere Media Group, Inc., a Vice Chairman & Chief Executive Officer at Expedia Group, Inc., a Co-Founder & Managing Partner at InterMedia Advisors LLC and a Managing Partner at InterMedia Partners VII LP. Prior to joining Paramount, Mr. Diller served as Vice President of Prime Time Television for ABC Entertainment. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. No one wants to. Expedia CEO Peter Kern speaks to Yahoo Finance. He is also a member of the Board of Trustees of California Institute of the Arts and a director of the Simon Wiesenthal Center. Vice Chairman and Chief Executive Officer, Chief People, Inclusion & Diversity Officer, Chief Technology Officer and President, Expedia Product & Technology, President and Chief Executive Officer of BECU, Chief Financial Officer, JBG Smith Properties. Before joining Tribune, Michael was Vice President of Labor Relations at NBCUniversal, where he supported network news and sports, owned and operated stations and late-night entertainment programs. The largest trade he's ever made was exercising 50,000 units of Expedia Inc stock on 20 June 2021 worth over $5,448,500. Mr. von Furstenberg also serves as a partner and Co-Chairman of the Board of Diane von Furstenberg Studio, LLC. What was the first leadership lesson you learnt? Im famously good at putting babies to sleep because of my grumbly voice, the Seattle-based travel boss says as we embark on a Zoom call to discuss his leadership strategies some 18 months later. Choosing one leadership hero is hard. It used to be like a college basketball coach or football coach but now a sommelier would be better. He is also a member of The Business Council. Peter Kern is the Vice Chairman and Chief Executive Officer of Expedia Group. His Broadway credits include To Kill A Mockingbird; The Iceman Cometh; Carousel; Three Tall Women; A Dolls House, Part 2; The Humans; and Betrayal. The next guest on the New Reality With. Peter Kern Vice Chairman and Chief Executive Officer Mr. Kern has been a director of Expedia Group since completion of the IAC/Expedia Group Spin- Off, has served as Vice Chairman of Expedia Group since June 2018, and has served as Chief Executive Officer of Expedia Group since April 2020. Prior to founding Ranger, Mr. von Furstenberg founded Arrow Capital Management, LLC, a private investment firm focused on global public equities, where he served as Co-Managing Member and Chief Investment Officer since 2003. Earlier in his career, Mr. Altman co-founded Loopt, Inc., a provider of mobile location-based services, and served as its Chief Executive Officer until it was acquired by Green Dot Corporation in March 2012, after which he held a number of senior executive positions at Green Dot, including Executive Vice President, Mobile Products and Technology, through December 2013, and served as a member of its Board of Directors from March 2013 through April 2016. A sharper-than-expected expansion of activity offers Chinese leaders an opportunity to shift the spotlight away from pandemic missteps. Im a big fan of old world Italian and French wines. Peter Kern joined Expedia Group in 2005. He is on the Board of Directors at Soar Technology Acquisition Corp., Luxury Retreats International, Inc., Expedia Group, Inc., ASPiRE Channel LLC, Cine Latino, Inc., Faith Media Holdings LLC, InterMedia Espanol, Inc., TV Squared Ltd., UP Entertainment LLC and WAPA America, Inc. Mr. Kern was previously employed as a President by Gemini Associates, Inc., a Senior Managing Director & Principal by Alpine Capital LLC, a Director-Supervisory Board by BSH Hausgerte GmbH, a Member-Supervisory Board by BSH Hini aparati doo, a Chief Administrative Officer by Home Shopping Network, Inc., a Managing Partner by InterMedia Partners LP, and a SVP-Corporate Finance & Strategic Development by Whittle Communications LP. Gorin joined Expedia Group in 2013 as Vice President of Market Management for EMEA and rapidly expanded the hotel network in the region. After all, Kern says, people dont put pictures of their vacuum cleaner on their refrigerator but of their favourite trip to Italy or Singapore or Thailand., Expedias Peter Kern: Be straight with your people about how you feel, West Virginia Gov. We believe in corporate travel, which is why we kept an equity stake in the company, and we will power Amex GBT and other corporate travel players. Prior to joining InterMedia, Mr. Kern was Senior Managing Director and Principal of Alpine Capital LLC. Prior to his tenure as Chief Executive Officer of IAC Travel, Mr. Khosrowshahi served as Executive Vice President and Chief Financial Officer of IAC from January 2002 to January 2005, as IACs Executive Vice President, Operations and Strategic Planning, from July 2000 to January 2002 and as President, USA Networks Interactive, a division of IAC, from 1999 to 2000. Mr. Kern has been a director of Expedia Group since completion of the IAC/Expedia Group Spin- Off, has served as Vice Chairman of Expedia Group since June 2018, and has served as Chief Executive Officer of Expedia Group since April 2020. From March 2010 through May 2013, Ms. Clinton served as an Assistant Vice Provost at New York University, where she focused on interfaith initiatives and the universitys Global Expansion Program. Evidence from airlines such as United, which said in April that it expected record quarterly revenues in the three months to the end of June, would suggest as much. 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Mr. Diller has been the Chairman and Senior Executive of Expedia Group since the completion of the Companys spin-off from IAC/InterActiveCorp (IAC) on August 9, 2005 (the IAC/Expedia Group Spin-Off). The estimated Net Worth of Peter M Kern is at least $2.1 Million dollars as of 15 February 2023. It also doesn't create waste and may help fight the climate crisis. Expedia Group CEO Peter Kern told CNBC on Friday he's not worried about customers abandoning actual travel for a virtual-reality alternative. Mr. Peter M. Kern is a President & Chief Executive Officer at Tribune Media Co., a Chairman-Supervisory Board at trivago NV, a Chairman at Gato Investments LP, a Chairman at Hemisphere Media Group, Inc., a Vice Chairman & Chief Executive Officer at Expedia Group, Inc., a Co-Founder & Managing Partner at InterMedia Advisors LLC and a Managing For a full comparison of Standard and Premium Digital, click here. Expedia Group CEO, Peter Kern on stage at EXPLORE 22 (Photo: Business Wire) May 04, 2022 04:15 PM Eastern Daylight Time. Peter Kern Vice Chairman and Chief Executive Officer, Expedia Group, Inc. Dara Khosrowshahi Chief Executive Officer, Uber Technologies, Inc. Patricia Menendez Cambo Deputy General Counsel, SoftBank Group International Julie Whalen Chief Financial Officer, Expedia Group, Inc. Director Emeritus Jonathan Dolgen Principal, Wood River Ventures, LLC Ms. Clinton has served as Vice Chair of the Clinton Foundation since March 2013, where her work emphasizes improving global and domestic health, creating service opportunities and empowering the next generation of leaders. From February 2014 through March 2019, he served as President of Y Combinator, a provider of advice and seed financing for startups. Most people dont just want to go to work, spin the gerbil wheel and go home and get paid. Ms. Clinton also teaches at the Columbia University Mailman School of Public Health. Recognized as a transformative technology executive,Rathioversaw Verizon Medias global technology strategy, leading the companys continued innovations in 5G while also managing the platform technology and infrastructure. In March 1983, in addition to Paramount, Mr. Diller became President of the conglomerate's newly formed Entertainment and Communications Group, which included Simon & Schuster, Inc., Madison Square Garden Corporation and SEGA Enterprises, Inc. Prior to Alpine Capital, Mr. Kern founded Gemini Associates in 1996 and served as President from its inception through its merger with Alpine Capital in 2001. I like to take on elements and traits that fit me from the different leaders I respect. Now the company is emerging from the pandemic into an equally uncertain world. Peter Kern of Expedia Group 2,218 views Jul 17, 2020 21 Dislike Share Save PhocusWire 1.42K subscribers #coronavirus The next guest on the New Reality With. . If they don't need to talk to a person and they can get a quick, easy answer to their problem, they're happier. Mr. Jacobson is a member of the Board of Directors of Charter Communications, Inc., Tribune Media Company, Oaktree Specialty Lending Corporation and Oaktree Strategic Income Corporation. or offers FT membership to read for free. 02:48 - Source . Expedia family of travel brands includes: Brand Expedia, Hotels.com, Expedia Partner Solutions, Vrbo, Egencia, trivago, HomeAway, Orbitz, Travelocity, Hotwire, Wotif, ebookers, CheapTickets, Expedia Group Media Solutions, Expedia Local Expert, CarRentals.com, Expedia CruiseShipCenters, Classic Vacations, Traveldoo, VacationRentals.com and SilverRail. from New York University. Expedia Group helps knock down the barriers to travel, making it easier, more enjoyable, more attainable and more accessible. But he was suddenly propelled into running the company after his predecessor Mark Okerstrom and Expedias then-chief financial officer walked out in December 2019 following a boardroom dispute. Business travel will come back. Peter Kern is currently Vice Chairman of the Board and Chief Executive Officer at Expedia Group - View - Expedia Group org chart You step into a job, you assume that you have to be perfect and then you screw something up or something doesnt go your way but you survive and you move past it and you learn from it. USPS, under pressure on costs, contracts trucking companies at cut rates and pushes them to meet aggressive delivery schedules. Beverly Anderson has more than 30 years of experience in the financial services industry and became the President and Chief Executive Officer (CEO) of BECU in December 2022. (Expedia Group Photo) Expedia Group, the Seattle-based online travel giant, posted improved results for the second quarter, but cautioned that the resurgence of the . Expedia Group CEO Peter Kern speaks from his home during a session at the virtual GeekWire Summit on Tuesday. RathiMurthy is CTO and President of Expedia Product & Technology, which includes overseeing the companys product and platform strategy. Mr. Khosrowshahi has been a director of Expedia Group since completion of the IAC/Expedia Group Spin-Off. Chief Financial Officer, Expedia Group, Inc. The next guest on theNew Reality Withseries is Peter Kern, CEO and vice chairman at Expedia Group, one of the world's largest online travel companies. We've made tremendous strides technologically that not only help us take care of more customers more quickly but which have freed up capital to invest in people to take care of customers. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. Mr. Kern also serves on the boards of several private companies. But February 2020 was not an auspicious time to start a significant overhaul of a global travel company. He also served on the board at Televicentro of Puerto Rico LLC and Thomas Nelson, Inc. Mr. Dzielak has served as Expedia Groups Chief Legal Officer and Secretary since March 2018, previously serving as its Executive Vice President, General Counsel and Secretary since April 2012. Mr. Kern has been a director of Expedia Group since completion of the IAC/Expedia Group Spin-Off, has served as Vice Chairman of Expedia Group since June 2018, and has served as Chief Executive Officer of Expedia Group since April 2020. Mr. Kern has been a director of Expedia Group since completion of the IAC/Expedia Group Spin-Off, has served as Vice Chairman of Expedia Group since June 2018, and has served as Chief Executive Officer of Expedia Group since April 2020. The bedtime stories were his wifes idea, he admits on our call. Mr. Kern holds a B.S. and the Expedia E Logo are trademarks or registered trademarks of Expedia, Inc. I think we'll be coming out of this meaningfully improved as an industry, starting next summer. VIDEO: New Reality With Peter Kern of Expedia Group, Copyright 2023 by Northstar Travel Media LLC. and other data for a number of reasons, such as keeping FT Sites reliable and secure, We're optimistic, we're ambitious for ourselves and our partners, we want to get everybody back to success, and we think there's a big opportunity for us all to be more successful because we work together in smarter ways. In a quarterly trading update that November, the travel groups net profit had fallen 22 per cent from a year before, missing Wall Street forecasts despite an increase in marketing spend. All this change creates traveler pain and also creates company pain because you've got to service customers, and they're needing service at much more elevated levels. Michael began his career practicing law in New York and Mexico City within a variety of disciplines, including corporate transactions, civil litigation, intellectual property and employment law. and a law degree from Pepperdine University. But Europe will be the next-best market for us after the U.S., and after that, Latin America, then Asia-Pacific. Mr. Kern is a Managing Partner of InterMedia Partners VII, LP, a private equity firm. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. He serves on the boards of The Coca-Cola Company and MGM Resorts International. Kern says his staff needed ongoing love. Expedia CEO Peter Kern on fourth-quarter earnings and travel outlook for 2021 CNBC's "Squawk on the Street" team discusses Expedia's latest earnings report and how consumer demand to. The stock and option awards represent the fair value at the grant date, and wont necessarily be the actual value when the awards vest. There could be bumps in business travel and other kinds of travel, but next summer, if this summer was any indication, will be gangbusters and, hopefully, the beginning of the end in terms of Covid's impact on travel. Its shares plummeted more than 27 per cent as a result. series is Peter Kern, CEO and vice chairman at Expedia Group, one of the world's largest online travel companies. . In a matter of months, the former honors student went from living in a luxury penthouse with other executives at FTX to becoming the latest member of the crypto exchanges inner circle to plead guilty to fraud. Mr. Dzielak received his J.D. Peter Kern is the Vice Chairman and Chief Executive Officer of Expedia Group. Mr. Kern also currently serves as Chairman of the board of directors of Hemisphere Media Group, Inc., a publicly-traded Spanish- language media company and as Chairman of the Supervisory Board of trivago N.V., a majority-owned subsidiary of Expedia Group, as well as on the boards of several private companies. Peter M. Kern serves as Chief Executive Officer, Vice Chairman of the Board of the Company. At the moment, I admire Microsofts CEO Satya Nadella and his work reviving Microsoft from sleeping giant to moving it into the cloud, and reimagining the company. series is Peter Kern, CEO and. . Mr. Kern served on the board of directors of Tribune Media Company from October 2016 through the completion of Tribune Medias merger with Nextstar Media Group, Inc. in September 2019, and served as Tribune Medias Chief Executive Officer from March 2017 through September 2019. Immediately prior to his appointment as Chief Executive Officer, Mr. Kern, along with Mr. Diller, had overseen Expedia Groups executive leadership team, managing day-to-day operations, since the departure of the Companys former Chief Executive Officer in December of 2019. Now we're rebuilding from the bottom up to scale to the world and really serve partners and get customer traveler innovation much more quickly. From October 1984 to April 1992, Mr. Diller served as Chairman and Chief Executive Officer of Fox, Inc. and was responsible for the creation of Fox Broadcasting Company in addition to Fox's motion picture operations. Ms. Whalen began her career in public accounting with KPMG Peat Marwick. Distribution and use of this material are governed by Company is here to bring the world within reach for customers and partners around the globe. Expedia Group Vice Chairman and CEO Peter Kerns 2021 total compensation was $296 million. He was inducted into the American Advertising Federations Hall of Achievement in 2009 and is the winner of 28 Cannes Lions. Mr. Diller served as Special Advisor to TripAdvisor, Inc., an online travel company, from April 2013 through March 2017, was TripAdvisors Chairman of the Board and Senior Executive from December 2011, when it was spun off from the Company (the TripAdvisor Spin-Off) until December 2012, and served a member of its Board until April 2013. We've always been stronger in big destination cities, Vegas, things like that, and some got hit during Covid. But, like the ebb and flow of omicron, some countries put up restrictions, others change the rules, and the traveler thinks, "What does it mean to me, can I cancel, can I not?" Prior to these efforts, Ms. Clinton worked as an associate at McKinsey & Company, a consulting firm, from August 2003 to October 2006, and as an associate at Avenue Capital Group, an investment firm, from October 2006 to November 2009. Ms. Banerjee has served as Chief Financial Officer of JBG Smith Properties (JBGS), a NYSE-listed real estate investment trust, since December 2020. What would you do if you were not a chief executive? (Podcast). Mr. Khosrowshahi has served as the Chief Executive Officer of Uber Technologies, Inc. since August 2017. Michael began his journey with Expedia Group in 2020 as Chief Inclusion and Diversity Officer. Expedia Group used to be like a sports team where the athletes were competing against each other rather than using the same game plan. He also managed labor relations for Telemundo Network, Studio, International, cable operations, and owned and operated stations throughout the U.S. and Puerto Rico. Peter M Kern, Expedia Group Inc: Profile and Biography - Bloomberg Markets Bloomberg TV+ Bloomberg Surveillance Bloomberg Surveillance with Tom Keene, Jonathan Ferro & Lisa Abramowicz. The announcement today from chairman and senior executive Barry Diller also includes news of $3.2 billion in new capital - $2 billion coming as debt financing and $1.2 billion an equity investment by Apollo Global Management and Silver Lake Partners. Barry Diller is the Chairman and Senior Executive of IAC and the Chairman and Senior Executive of Expedia Group. You can see the complete history of Mr. Kern stock trades at the bottom of the page. So, kudos to science and innovation and ingenuity. Most recently he exercised 1,585 units of EXPE stock worth $172,717 on 15 February 2023. Beverlys core areas of focus include strategy development and sustainable growth, overseeing daily operational activities, and fostering BECUs culture of promoting the financial well-being of its members and communities. Beyond the office, Beverly is dedicated to giving back to her community, serving on the boards of Expedia Group, Accion, Sword Health, and the Harvard Business School African-American Alumni Association. Compare Standard and Premium Digital here. Mr. Dolgen is a director emeritus of Expedia Group, having served as a director of the company from the IAC/Expedia Group Spin-Off through June 2019. All rights reserved. feel like they are making a difference, he explains. CEO Peter Kern told an investor conference Monday that Vrbo would be the last of its . our Subscriber Agreement and by copyright law. Nayarit has a lot to offer luxury travelers, Nevada's congressional delegation reacts to Biden's 'Junk Fee' proposal, Giada De Laurentiis and Oceania Cruises, a delicious combination, Despite an energy crisis, lights are staying on for South Africa's tourists, Uniworld Boutique River Cruise Collection, Executive view 2022: Peter Kern of Expedia Group, Executive view for 2022: Stephanie Linnartz of Marriott International, Executive view for 2022: Orlando Ashford of Azamara, Executive view 2022: Becky Powell, Global Travel Collection. commentary and analysis you can trust. Kern is a Managing Partner of InterMedia Partners VII, LP, a private equity firm. Previously, Mr. Khosrowshahi served as the Chief Executive Officer and President of Expedia Group from the completion of the IAC/Expedia Group Spin-Off until August 2017. Vrbo did great and continues to be super strong. On average, Peter trades about 2,602 units every 74 days since 2005. Organising to succeed has a cost. For non-personal use or to order multiple copies, please contact Mr. Dolgen began his career in the entertainment industry in 1976 and, until joining the Viacom Entertainment Group, served in a variety of executive positions at Columbia Pictures Industries, Inc., Twentieth Century Fox and Fox, Inc., and Sony Pictures Entertainment. Staff were dealing with a torrent of anguished customer phone calls as they tried to cancel and get refunds for trips. Expedia is planning for a boom in travel as more people get vaccinated. Access exclusive travel research, data insights, and surveys. Gieselman served as a director of Expedia Group from December 2019 to May 2021. Mr. von Furstenberg has served as a member of the Board of Directors of IAC since 2008, Liberty Expedia Holdings since November 2016, La Scogliera, an Italian financial holding company, since December 2016 and served as a member of the board of directors of W.P. Ms. Menendez Cambo holds a J.D. Its most akin to how I see my challenge at Expedia. All other trademarks are property of their respective owners. Co-Chief Executive Officer and Founder, Brex Inc. Solugen Bio has built a chemical plant that produces all manner of chemical-based products using bio-based feedstock instead of fossil fuels. She is also a Certified Public Accountant and holds both a B.S. It was a precarious moment: Calls to the companys call centers had surged 500% as consumers canceled flights and hotel rooms. Mr. Dzielak had previously served as Senior Vice President and acting General Counsel since October 2011. Expedia Group plans to do at least three things to grow its Vrbo business in 2023. Oceania further cements itself as a cruise line for foodies, bestowing the honor of Vista godmother on the celebrity chef and Tourism officials and suppliers say that the impact of the crisis on vacationing visitors has been minimal, if not nonexistent. There are 6 older and 12 younger executives at Expedia Inc. Do they come into my room and clean it, or do they wear masks at the hotel?" Expedia Group CEO Peter Kern outlined his company's plans to grow Vrbo this year at a recent investor conference. Ms. Clinton has been a director of Expedia Group since March 2017. from The John Marshall Law School. And then we can have really good people to solve harder problems at a higher rate, in a faster way. Vice Chairman and Chief Executive Officer, Expedia Group, Inc. Chief Executive Officer, Uber Technologies, Inc. Deputy General Counsel, SoftBank Group International. Ms. Clinton has also served as a member of the Board of Directors of the Clinton Health Access Initiative since September 2011. PO Box 760, Sherman, CT 06784 USA | Telephone: +1 860 350-4084, Greyhound and FlixBus combine technology to enhance traveler experience, In The Big Chair - Caesar Indra of Traveloka, VisitBritain seeks more bookings with 10 million campaign, JetBlue adds climate platform powered by Chooose, BinBin swoops up GO Sharing in micromobility consolidation, Expedia, Microsoft and travel experts on ChatGPT. Previously, Beverly led in executive roles defining and executing growth strategies at Wells Fargo and American Express. Prior to Alpine Capital, Mr. Kern founded Gemini Associates in 1996 and served as President from its inception through its merger with Alpine Capital in 2001. Expedia Inc executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. Expedia prepares for post-pandemic travel surge. . Everyone has bought enough stuff, he says. Prior to joining Expedia Group, Mr. Dzielak was a partner at the law firm of Preston, Gates and Ellis, LLP (now K&L Gates LLP), where his practice focused on commercial and intellectual property litigation. Domestic's awesome, but there have been winners and losers. Chairman & Sr. Exec.. Peter's mailing address filed with the SEC is C/O EXPEDIA GROUP, INC., 1111 EXPEDIA GROUP WAY W., SEATTLE, WA, 98119. In February this year, Expedia said it had achieved record fourth quarter adjusted earnings despite ongoing uncertainty in the travel industry. [We sold Egencia to American Express Global Business Travel] not because we thought corporate travel would lag. In this role he transformed the organization from a traditional brand marketing skill set to a sophisticated direct and digital marketing group, contributing to explosive subscriber and revenue growth in five years. Mr. von Furstenberg currently serves as Chief Investment Officer of Ranger Global Advisors, LLC (Ranger), a family office focused on value-based investing, which he founded in June 2011. . Facing pressure to curb diabetes-treatment costs, the company will cut the list prices for its most commonly prescribed insulin and take other steps to make it easier for patients to afford the drugs. In some he read bedtime stories to the children of frazzled staff. Most recently, Michael served as Senior Vice President of Human Resources and Chief Labor & Employment Counsel at Tribune Media Company, where he led all Human Resources functions including benefits, compensation, talent acquisition, HRIS, learning & development, as well as diversity and inclusion efforts. Previously Gorin was President of Expedia Business Services which comprised of Expedia Partner Solutions and Egencia. degree from the University of Pennsylvania Carey Law School and a B.B.A (Bachelor of Business Administration) degree from the University of Miami. The group is also taking a new direction. Mr. Kern served on the board of directors of Tribune Media Company from October 2016 through the completion of Tribune Medias merger with Nextstar Media Group, Inc. in September 2019, and served as Tribune Medias Chief Executive Officer from March 2017 through September 2019. Expedia Group Only a quarter of the world's population is fully vaccinated against COVID 19. In this role, he leads the people and culture strategy for the company, including attracting and retaining talent, creating an inclusive and diverse workplace, and continuously improving the employee experience. Premium access for businesses and educational institutions. 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Specific industries work best with focused goals the Clinton Foundation from September.! Cannes Lions our call it had achieved record fourth quarter adjusted earnings despite ongoing uncertainty in region.