Priceline.com Chairman Named Chief Executive

Priceline.com Inc. said it named Chairman Richard Braddock to replace Daniel Schulman as chief executive, effective immediately.

The company also said that Chief Operating Officer Jeffery Boyd was appointed president.

Schulman led Priceline.com as it tried to recover from breakdowns in its customer service, the failure of an affiliated business and the departure of Chief Financial Officer Heidi Miller.

Schulman joined the company in June 1999 from AT&T; Corp., where he had been president of its $22-billion consumer markets division.

Braddock is a former president and chief operating officer of Citicorp.

Shares of Norwalk, Conn.-based Priceline.com rose as high as $6.05 in after-hours trading after closing off 78 cents at $5.30 on Nasdaq. The company made the announcement after regular U.S. markets closed.