Tuesday, 21 November, 2017

Is new CEO Dara Khosrowshahi's taking over signalling changes at Uber?

Driverless Uber gets driver at last, Expedia's boss Dara Khosrowshahi Uber confirms Expedia chief Dara Khosrowshahi as next chief
Clarence Schmidt | 31 August, 2017, 06:14

Uber has a new CEO, finally, in the form of Dara Khosrowshahi.

Venture capital firm Benchmark Capital, which owns about 13 percent of Uber, filed a lawsuit filed earlier this month in DE, alleging that Kalanick misled Uber's stockholders in order to gain control of three board seats.

Some have speculated that Khosrowshahi would be the adult in the room and play it safe at Uber as he readies the company to go public.

In an email sent to Uber employees two days after offering him the job, the company's board of directors confirmed Khosrowshahi's appointment.

Benchmark, which was behind the coup that forced Kalanick to resign, alleges that the founder hired allies to the board to increase his control over the company.

However, it was Khosrowshahi, the consensus candidate, who received unanimous votes during a board meeting on Sunday. Uber now has vacancies for several key positions including a CFO (officially), chief operating officer, chief marketing officer, general counsel and senior vice president of engineering.

Uber's largest shareholder, Benchmark, is suing Kalanick for fraud, accusing him of hiding numerous company's problems when he requested the power to appoint new board seats.

Under Uber's previous hard-charging chief executive, Travis Kalanick, Uber expanded to 77 countries in just eight years and built up a reputation for rule-breaking and for a "bro" culture that has been hostile to women and underrepresented minorities.

With Khosrowshahi, Uber gains a strong voice against policies set out by US president Donald Trump.

Despite this, Whitman took to Twitter yesterday to say that she wasn't going to leave HPE anytime soon. "I was not a contender for this job until the weekend - and I'm not even sure I was then".

Immelt is leaving GE after spending 16 years at the company and his departure date is set to be on 31 December 2017, although his successor John Flannery will take over at the start of August.

The hiring of Khosrowshahi comes as Uber is hoping to move past a 2017 that has shellacked the company.

Mayer was Yahoo's CEO before Verizon completed its acquisition of the company. The startup reported losing $645 million in a single quarter.

The judge granted former CEO Travis Kalanick's request to put the lawsuit on hold while an arbitrator considers claims raised by venture capital firm Benchmark Capital Partners. "This is not something I was looking for", he said.

Khosrowshahi wore an Uber t-shirt as he was introduced to workers during an "all-hands" gathering at the San Francisco headquarters, according to photos posted online.

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Uber selects Dara Khosrowshahi as new CEO to replace Travis Kalanick Uber selects Dara Khosrowshahi as new CEO to replace Travis Kalanick The Uber board of directors has been meeting daily and deliberated on its pick for CEO throughout the weekend. Though Uber's business has been unaffected by all this, Kalanick's style of management came under scrutiny.