NEW YORK (CNN/Money) - Online travel Web site Priceline.com said Monday it promoted Jeffery H. Boyd as the company's sole chief executive officer. He takes control immediately of one of Internet boom's few survivors.

Boyd, 46, was Priceline's president and shared CEO duties with Chairman Richard S. Braddock, who will continue as chairman, the company's board of directors said in a statement.

Jeffery H. Boyd

Boyd joined Priceline.com in January 2000, when Priceline shares traded as high as $66. They went on to tumble with the rest of the Internet sector. But Priceline still outlasted Internet companies like Pets.com.

Shares of Priceline (PCLN: Research, Estimates), based in Norwalk, Conn. rose 11 cents to $1.91 Monday ahead of the Boyd news.

Before joining Priceline.com, Boyd was executive vice president and general counsel for Oxford Health Plans (OHP: Research, Estimates).