EXPEDIA CEO TO HEAD UBER

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Dara Khosrowshahi

Expedia CEO Dara Khosrowshahi will be new Uber CEO, Recode reports

Uber’s ride-hailing business has suffered a series of complications including sexual harassment allegations, a slew of firings related to a workplace culture investigation, tussles with regulators and a legal battle with Alphabet.

  • Key deputies like senior vice president Emil Michael, global operations head Ryan Graves, president Jeff Jones, and president of Asia Pacific Eric Alexander are no longer in their roles in the company

  • The firm is also without a chief operating officer, chief financial officer and head of finance

Expedia CEO Dara Khosrowshahi will be Uber’s new chief executive, according to a report from Recode.

The ride-hailing company’s board earlier voted on Khosrowshahi, an Iranian American businessman, to replace former CEO Travis Kalanick after General Electric boss Jeffrey Immelt dropped out from the race. Previously, Hewlett Packard Enterprise CEO Meg Whitman had been discussed to lead the troubled start-up.

Khosrowshahi has been at the helm of Expedia since 2005.

As Uber’s new leader, he will walk into a situation that would test even the most seasoned CEO: A $70 billion company fending off chaos on all sides.

The company’s ride-hailing business has suffered a series of complications — sexual harassment allegations, a slew of firings related to a workplace culture investigation, political pressure, tussles with regulators, a legal battle with Alphabet, alleged distribution of a rape victim’s medical records, a report of drug use, unflattering videos and emails from the former CEO, mergers, an exploding car, steep losses and infighting among investors — just to name a few.

Another hurdle is the former CEO. Travis Kalanick may no longer have an operating role in his company, but as a key player in Uber’s origin, he has a seat on the board, 10 percent of stock and 16 percent of voting rights in Uber, according to legal filings.

The new boss will need to flesh out the ranks of Uber to get the company back to its pre-2017 growth path. Once-critical deputies like senior vice president Emil Michael, global operations head Ryan Graves, president Jeff Jones, and president of Asia-Pacific Eric Alexander are no longer in their roles in the company. The firm is also without a chief operating officer, chief financial officer and head of finance.

This is breaking news. Please check back for updates.

Article source: CNBC.com

 

 

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