Braddock's appointment is effective immediately. He replaces Daniel H. Schulman, priceline.com's prior president and CEO. The company also named Chief Operating Officer Jeffery H. Boyd to fill the position of president.
The company, which is best known for operating a Web site that allows users to bid for surplus airline tickets, rental cars and hotel rooms, said Braddock will continue to serve as chairman of the board. Boyd has served as priceline's chief operating officer since October.In a press release, the company said "the board concluded, based on the company's future objectives and the significant progress it already has made in its turnaround plan and drive to profitability, that this management realignment was in the best interests of priceline.com and its shareholders." Last week,