Priceline promotes Huston to CEO; 3Q profit grows

(AP)—Priceline Group is promoting one of its executives to CEO, taking over from Jeffery Boyd.

Boyd, who has been CEO since 2002, will remain the travel website's chairman.

Priceline says Darren Huston will take over as CEO and president and join the board on Jan. 1. He's currently head of hotel reservation service Booking.com, a unit of Priceline.

The Norwalk, Conn., company also said Thursday that its profit rose 40 percent in the third quarter to $833 million as bookings for flights, rental cars and hotels rose and ad sales increased.

Priceline's earnings outlook for the fourth quarter fell short of Wall Street's projection, however.

Shares are down 1 percent to $1,011 in after-hours trading.