Priceline Group CEO Darren Huston has resigned, effective immediately, following an investigation linked to a personal relationship that he had with an employee who was not under his direct supervision.
Huston resigned following an investigation overseen by independent members of the board into the circumstances surrounding the relationship.
"Everybody is in favor of finding love, but it's got to be found in the right place," Ted Snyder, professor of economics and management at Yale School of Management, told CNBC on Thursday. "A relationship between a CEO and an employee is typically not the right place," he said, adding that these types of relationships tend to be corrosive.
The investigation determined that Huston had acted contrarily to the company's code of conduct and had engaged in activities inconsistent with the board's expectations for executive conduct, which Huston acknowledged and for which he expressed regret.
"I am satisfied with the board's thorough review of this issue," James Guyette, lead independent director, said in a statement.