Priceline ousted Chief Executive Darren Huston after he admitted to having an office fling, company officials announced on Thursday.
The Norwalk, Conn., company didn’t provide any details beyond saying that Huston fessed up to findings of an internal probe.
“The investigation determined that Mr. Huston had acted contrary to the company’s code of conduct and had engaged in activities inconsistent with the board’s expectations for executive conduct, which Mr. Huston acknowledged and for which he expressed regret,” according to Priceline.
The company appointed board chairman and former CEO Jeffrey Boyd as its temporary chief.
Huston, a married, 50-year-old Canadian businessman, was based in Amsterdam, where he had been working since 2011, when Priceline hired him to run Booking.com, its Dutch-rooted travel site.
He was promoted to run Priceline on Jan. 1, 2014, though he stayed in Europe.
There was no severance package for Huston, but he will “receive pro rata vesting based on time served of his outstanding equity awards,” according to a Securities and Exchange Commission filing.
Huston will still be bound by a non-compete clause in his contract, the company said.
Priceline will, however, pay for his move back to North America, according to a regulatory filing.
The company was quick to point out that Huston’s departure was strictly over this relationship and not his bottom-line performance with the company.
Priceline shares closed Thursday at $1,317.59, down 2.7 percent.


