What’s Wrong at Tripadvisor?
Question: At Tripadvisor, as a controlled company, what mechanisms did minority shareholders have to pressure Chairman Greg Maffei to make dramatic changes? Answer: Relatively few.
Tripadvisor recently laid off well over 200 employees to reboot its once-market-darling Experiences business as part of a wider reorganization. The company's share price has basically been in free fall since the summer of 2014 when it reached $110 per share.
With coronavirus taking a toll in recent days, Tripadvisor's stock was trading at lower than $29 per share in the past few days.
It all underscores the travails of this once-dominant travel giant. How it got to where it is today reveals missteps, a changing competitive environment, and a corporate structure that left little accountability.
