Uber hires former Expedia boss Dara Khosrowshahi as new CEO
Aug 30 2017 by Cristina Jennings
In India, Uber has seen 115 per cent rise in number of completed trips in July this year over the same month last year.
During his time at Expedia, Khosrowshahi made aggressive buys, such as the 2015 purchase of holiday rental service HomeAway for $3.9 billion and travel agencies Otis, Travelocity and Wotif.
Jackdaw Research analyst Jan Dawson noted Khosrowshahi wasn't reported as being in the running to replace Kalanick, who still sits on Uber's board.
Although Kalanick's support of President Donald Trump was not specifically cited as a reason for his ouster, Uber's activist Board of Directors, led by Benchmark Partners, appears to have found a new CEO that dislikes President Donald Trump. Its board is embroiled in a public legal fight.
Large Uber investors have marked down their investments.
"Pruning some of Uber's more experimental or money-losing efforts" might be on the horizon, said Anand Sanwal, CEO of venture capital data firm CB Insights.
He will join San Francisco-based Uber's all-hands staff meeting Wednesday to take questions from employees, board members said in their email. "While we are trying to be hopeful, there is as much as dread and trepidation as anything else".
The new boss will need to flesh out the ranks of Uber to get the company back to its pre-2017 growth path. Once-critical deputies like senior vice president Emil Michael, global operations head Ryan Graves, president Jeff Jones, and president of Asia-Pacific Eric Alexander are no longer in their roles in the company.
If he accepts the job, he will be leading the world's most valuable privately-held tech startup, valued at more than $US60 billion by its investors.
Mr Khosrowshahi earned about $2.5m in total compensation at Expedia past year. Moreover, Khosrowshahi has created a corporate culture that employees respect, as measured by third-party surveys, Wasiolek said.
"We're really fortunate to gain a leader with Dara's experience, talent and vision", said the Uber board in a joint statement.
Khosrowshahi 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, NV, a majority-owned subsidiary of Expedia. For one, he is considered even-keeled and low-key - a sharp contrast to Uber's former chief executive and co-founder Travis Kalanick, who has been known to fly into fits of anger. Immelt reportedly withdrew himself from consideration, and Whitman announced in July she would not leave her position at HPE. After that, Khosrowshahi became the "truce candidate".