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Priceline’s CEO Jeffery Boyd puts managing business before managing the company’s stock. The Norwalk, Connecticut-based office lacks the interior charms of typical internet companies. Boyd prefers to spend money on things that increase revenue.
Boyd started in 2000 as Priceline’s general counsel. After the dotcom bubble burst, and the company’s stock evaporated, founder Jay Walker left. Boyd became CEO in 2002.
He shuttered nonessential businesses. He expanded into Europe, where people have more vacation time—and actually take it.
The company’s stock recently slid after Boyd announced a deceleration in European growth due to economic problems. But Priceline anticipates 15% to 25% more earnings in the third quarter. Its Asian presence is growing and its global car rental business is booming.
One management decision Boyd had to reverse was killing off the Negotiator. The commercial character, played by William Shatner, was so popular with customers that he was miraculously found alive after an earlier commercial saw him plunge to his death on a tour bus.
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