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Uber appoints Dara Khosrowshahi as CEO: report

Online cab hailing service Uber has appointed Expedia’s CEO Dara Khosrowshahi as its new CEO, reports Recode. Khosrowshahi was in the running for the top job along with Jeff Immelt, chairman of General Electric and Meg Whitman, CEO of Hewlett Packard Enterprise.

However, late last night, Immelt and Whitman took to Twitter and said that they did not want to lead Uber.

Uber’s CEO post has been vacant since co-founder Travis Kalanick resigned following investor pressure and the board had recommended that his responsibilities should be reviewed and reallocated. The company’s troubles had been mounting after former U.S. Attorney General Eric Holder completed an investigation into the company’s culture. Lawsuits and allegations of sexism are what prompted the investigation. Note that Kalanick continues to remain on the board.

Currently, Uber’s top level management is empty with the exception of the post of Chief Technology Officer. The company currently does not have a chief operating officer, a chief financial officer, chief marketing officer, chief diversity officer, general counsel, senior vice president of engineering.

Boardroom fight

Meanwhile, venture capital firm Benchmark has filed a lawsuit against him for breach of contract and fiduciary duty. The lawsuit alleges that Kalanick gained several board seats through “material misstatements and fraudulent concealment.” The lawsuit also said that the objective was to fill the board with allies so that Kalanick could return as CEO and escape scrutiny.

Uber’s board passed a resolution to increase the number of seats from eight to 11. As part of his resignation, Kalanick had agreed to leave the two seats would stay independent, something that he has yet to codify via an amendment to the voting agreement. Recode added that Kalanick was backing Immelt for the CEO position while Benchmark was rooting for Whitman. And it seems that Khosrowshahi is considered the “truce” choice for the board.

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    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ