CEO Mark Okerstrom and Chief Financial Officer Alan Pickerill resigned their roles Wednesday, effective immediately. The announcement of the abrupt move came from Barry Diller, who is the chairman of Expedia's board. Diller said the board and senior management "disagreed on strategy" about the company's reorganization efforts.

Earlier in 2019, Expedia sought to unite its family of brands, which includes a variety of well-known travel websites including Orbitz, Hotels.com, and Vrbo. But Diller said the strategy failed. "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," Diller said in a regulatory filing.

Related: The rise and fall of Mark Okerstrom as Expedia CEO