Uber's Search For New CEO Almost Over

Posted August 28, 2017

Khosrowshahi is working in Expedia since 2005.

The other candidate remaining in the search was former General Electric Chief Jeffrey R. Immelt.

Expedia CEO Dara Khosrowshahi has been chosen to lead Uber.

Khosrowshahi will replace former CEO Travis Kalanick, who resigned from the position in June following a damming report on the company's culture problems under his leadership, including sexism and sexual harassment.

Last week, Uber announced that it had narrowed losses to US$645 Million, and that total bookings have grown 17% in the previous quarter. "He's one of the humblest and most even-keeled people I know", said Ali Partovi, an entreprenuer and technology investor, who is Khosrowshahi's second cousin.

The pressure mounted earlier this month when early Uber investor Benchmark Capital filed suit against Kalanick, accusing him of fraud, breach of contract and of plotting to manipulate the board of directors to allow him to return as CEO.

Khosrowshahi, the current CEO of Expedia Inc (NASDAQ: EXPE), was considered to be a dark horse candidate since his name hasn't been named publicly as a potential CEO, Bloomberg reported. More than 20 employees were fired after an investigation into sexual harassment allegations and the company is defending itself against a trade-secret theft lawsuit from Waymo, a self-driving auto business run by Alphabet, Google's parent company. The Uber Board was reportedly in favour Hewlett Packard Enterprise Chief Meg Whitman taking over but reports state that they finally decided on Khosrowshahi for the position of CEO.

Uber Technologies Inc.'s search for new chief executive may be almost over.

Before that, he had held a series of executive roles at IAC, including serving as its Executive Vice President and Chief Financial Officer, as Executive Vice President of Operations and Strategic Planning, and as president of USA Networks Interactive, a division of IAC.

While some tech CEOs have sought to stay out of politics, Khosrowshahi has been openly critical of President Donald Trump . A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time. Although she spoke to some board members remotely Friday night, they could not guarantee an end to their infighting or that Kalanick would not become board chairman, said another person with knowledge of the board discussions.

As the Washington Post notes of Khosrowshahi, who is Iranian-American, he is "well liked and respected" within Silicon Valley after presiding over "a huge expansion of [Expedia] to over 60 countries", and he's "also a vocal critic of President Trump, particularly his travel ban against Muslim Americans". But, in 2015, Khosrowshahi was the highest paid CEO in the US.