Uber Gets a New CEO from Travel Company Expedia
【Summary】Uber chose Dara Khosrowshahi, who leads the online travel company Expedia, to be its chief executive on Sunday. The selection capped a contentious search process as the ride-hailing company seeks to move past the turbulent events this year.
SAN FRANCISCO — Uber finally has a new CEO after Travis Kalanick stepped down in June amongst pressure from investors, as the company looks to improve its image and work to become profitable.
Uber chose Dara Khosrowshahi, who leads the online travel company Expedia, to be its chief executive on Sunday, two people with knowledge of the decision said. The selection capped a contentious search process as the ride-hailing company seeks to move past the turbulent events this year.
Uber, the company's board and Expedia did not respond to requests for comment from the media.
Mr. Khosrowshahi emerged as the leading candidate from a field of three finalists over a weekend of Uber board meetings, said the people, who spoke on the condition of anonymity because the details were confidential.
One finalist, Jeffrey R. Immelt, the former chief of General Electric, withdrew on Sunday when it became clear that he did not have enough support, said two people familiar with the process.
Travis Kalanick, stepped down from the CEO role under pressure on June 20. Under Mr. Kalanick, Uber changed the transportation landscape by offering people the ability to summon a ride through an app, and the privately held company swelled to a nearly $70 billion valuation.
So far, Uber has had a tough year, with the company involved in numerous scandals including sexual harassment accusations in the workplace, a Department of Justice criminal investigation into some of its methods, and an intellectual property dispute with a self-driving car rival Waymo. While Uber's business continued to grow, Mr. Kalanick's management style faced scrutiny and investors and board of directors mutinied against him.
Although Kalanick remains on Uber's board, the board itself has been rived with discord, especially between Mr. Kalanick and Benchmark, a venture capital firm that is a major Uber shareholder and that also has a seat on Uber's board. Both Mr. Kalanick and Benchmark had their own preferred candidates for a new chief. Benchmark also has sued Mr. Kalanick to try and force him off the board.
Mr. Khosrowshahi, who has been president and chief executive of Expedia since 2005, has experience in a digital industry that affects the logistics and movement of people. Based in Bellevue, Wash., Expedia has travel brands including Hotels.com and Orbitz. The publicly traded company is smaller than the privately held Uber, with a market capitalization of around $23 billion compared with Uber's private valuation of nearly $70 billion.
Khosrowshahi could officially be introduced to Uber employees as early as today.
Originally hailing from New Jersey, Eric is a automotive & technology reporter covering the high-tech industry here in Silicon Valley. He has over 15 years of automotive experience and a bachelors degree in computer science. These skills, combined with technical writing and news reporting, allows him to fully understand and identify new and innovative technologies in the auto industry and beyond. He has worked at Uber on self-driving cars and as a technical writer, helping people to understand and work with technology.
Electric Performance Brand Polestar Shares New Details of its ‘Precept’ Sedan
Automakers Honda & Nissan to Furlough Nearly 30,000 U.S. Workers as New Car Sales Plummet
Tesla Engineers Share Details of a Prototype Ventilator Made With Electric Car Parts
Autonomous Vehicle Startup Phantom AI Raises $22 Million in Series A Funding for its Advanced Driver Assistance System
Toyota & BYD Officially Launch Joint Venture Company to Build Electric Vehicles in China
Electric Vehicle Startup Rivian Shares an Update on its Illinois Factory That Was Once Owned by Mitsubishi Motors
Amid the Coronavirus Crisis in the U.S., the Trump Administration Moves Forward on Rolling Back Vehicle Fuel Economy Standards
Exor to Invest $200 million for a 9% Stake in Ride-Hailing Company Via Transportation
- Volkswagen to Launch 34 New Models in 2020, Including 12 SUVs
- Toyota is Developing a Hydrogen-Powered Fuel Cell Truck With its Hino Motors Unit
- Velodyne Announces its New Compact Velabit Lidar Sensor for Autonomous Applications
- Nikola Motor Co Unveils its ‘Badger’ Hydrogen-Electric Fuel Cell Pickup With Up to 600 Miles of Range
- Aptiv Unveils its New 'Smart Vehicle Architecture' for Electric, Connected and Autonomous Vehicles at CES
- Automakers Ford & General Motors are Allowing Rival Tesla to Lead U.S. EV Production Until at Least 2026, Data Indicates
- Fiat Chrysler & Foxconn Plan an Electric Vehicle Joint Venture in China
- Former Uber CEO and Co-Founder Travis Kalanick to Resign From its Board, Cutting All Ties to the Company
- University of Michigan Finds Ways to Maximize Lithium-Ion Battery Life
- The Coronavirus is Disrupting Auto Manufacturing in Mexico and Europe as Parts Shipments From China Slow