"Ultimately, senior management and the board disagreed on strategy," Diller, 77, said in the statement. "Earlier this year, Expedia embarked on an ambitious reorganization plan with the goal of bringing our brands and technology together in a more efficient way. This reorganization, while sound in concept, resulted in a material loss of focus on our current operations, leading to disappointing third quarter results and a lackluster near-term outlook. The board disagreed with that outlook, as well as the departing leadership's vision for growth, strongly believing the company can accelerate growth in 2020." Shares gained 5.2% in early trading in New York. They are down 12% so far this year. Expedia has been plowing resources into its home-sharing division, Vrbo, in a bid to challenge rivals Airbnb Inc. and Booking Holdings Inc. in the booming market for alternative accommodation.