Feargal Mooney is to step down as CEO of Hostelworld, ending a 16-year role at the budget accommodation provider.
Taking over the top job which Mooney has held for the last ten years will be Gary Morrison, who will come in from June 11 this year from his position as senior vice president head of retail at Expedia Group.
Mooney says it is time for a change both for him personally and for Ireland-based Hostelworld.
Chief financial officer Mari Hanley announced in December 2017 that she would also be leaving during the first half of 2018.
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Net revenue for Hostelworld increased by 10% during 2017 to €86.7 million.
Adjusted EBITDA was up 13% over the same period to €26.4 million.
New man coming in
Morrison joined Expedia Group in February 2011 from Google, where he was head of global sales operations.
Over the last seven years he held the position of general manager for EMEA before taking on his current role from January 2013.
He is also a board member of Decolar, AirAsia Expedia and Voyages-SNCF.
Mooney says: "I am proud to have been a part of bringing Hostelworld this far and in particular to have progressed the key strategic pillars which formed the basis of our stock market flotation in 2015.
"I am delighted to hand over to Gary Morrison to whom I extend my congratulations, and I am confident that Gary and the team will lead Hostelworld to even greater levels of success in the years ahead."
Recently installed chairman, ex-deputy CEO at Ryanair, Michael Cawley, says Mooney's departure was on the agenda for "some months", giving the board time with its search for a replacement.
Cawley says: "His role in Hostelworld’s development has been crucial and undoubtedly Hostelworld wouldn’t occupy its pre-eminent position in the market were it not for Feargal’s commitment and leadership.
"He leaves behind a business with significant competitive advantages and momentum."