Uber Picks New CEO, Expedia’s Dara Khosrowshahi

August 28 14:17 2017

Meanwhile, Immelt on Sunday Tweeted, “I have decided not to pursue a leadership position at Uber“. Khosrowshahi received a BA degree in Engineering from Brown University and is now a member of the boards of directors of Fanatics Inc. and The New York Times Company, and of the supervisory board of trivago, N.V., a majority-owned subsidiary of Expedia.

In 2016, Khosrowshahi took home $2.4 million in salary and bonus compensation from Expedia, and owned another $35.4 million worth of stock options, according to Bloomberg.

Unlike Khosrowshahi, neither of those candidates hails directly from the transportation industry.

But within Silicon Valley, Khosrowshahi is well liked and respected. It also has expanded operations to 60 countries. Khosrowshahi has openly criticized the Trump administration, supporting a lawsuit Washington state filed this year against the president over his travel ban.

Since Travis Kalanick stepped down as Uber’s chief executive officer in June, the firm’s board of directors has been hunting for a new head and it appears as if it has settled on a name.

Reuters reported that Khosrowshahi, 48, would take on the challenge of leading the ride-services company out of a almost year-long crisis.

“My whole life, anytime I’ve faced a high-pressure decision, my model for mature behavior has been, “what would Dara do”?” Khosrowshahi now has the hard job of mending the dysfunctional ride-hailing giant and turning it from money-losing behemoth to a profitable company.

Khosrowshahi’s other asset is his skill as a dealmaker in the highly competitive market for online travel. Uber, which has garnered more than 12 billion euros from private investors, is moving towards an initial public offering.

One of Khosrowshahi’s first tasks in his new position will be to fill a number of executive vacancies, such as chief financial officer, chief operating officer and general counsel. “He has been a major factor behind the success of the company over the past dozen years”, Mahaney said.

The proposed appointment follows a calamitous period at Uber, which saw its founder and CEO, Travis Kalanick, depart from the role after the company was pummelled by scandal after scandal in terms of its workplace culture.

The executive search has lasted all summer long and been marred by infighting among board members.

Benchmark Capital, the VC firm that sued Kalanick, had backed Whitman, while Kalanick backed Immelt, according to Recode.

Dara Khosrowshahi during a news conference in Seattle

Uber Picks New CEO, Expedia’s Dara Khosrowshahi
 
 
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