mouthofthetyne.com September 26 2017




Uber selects Expedia chief as new CEO

September 26 2017, 04:01 | Frederick Owens

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Uber chooses Expedia chief Dara Khosrowshahi as new CEO: reports

Dara Khosrowshahi is the chief executive officer of Uber Technologies.

The former travel company CEO was voted for by the ride hailing firm's board of directors on Sunday, following daily meetings regarding the position earlier that week.

Dara Khosrowshahi, Uber's new CEO, is lauded as an inspired choice because he turned around travel-bookings platform Expedia during his 12-year tenure. For much of this year Uber, the ride-hailing firm, has lacked both leadership and optimism.

The faction that opposes Kalanick's involvement is led by Uber investor Benchmark.

Running Uber will be no easy task. Additionally, several allegations of sexual harassment in the workplace are ongoing at Uber. The news of his offer has been well-received by insiders and the public at large.

Uber has been without a boss since June when Kalanick resigned, yielding to pressure from investors seeking to clean up a toxic corporate culture at the fast-growing company he created in 2009. "Even a flawless CEO will find it tough to succeed in such conditions", Bloomberg reported. Yet amid the headlines over the presumably secret search process, Uber employees were ready for it to be over, and official. He served as a chief financial officer at IAC, an internet conglomerate owned by Barry Diller, and as a former dealmaker at Allen & Co, an investment bank. He has been steering the travel-bookings-based website since, taking it from a $15 billion venture to a $72 billion global brand. Under Khosrowshahi's leadership, Expedia more than doubled its annual revenue since 2012 to almost $8.8 billion in 2016. That left many of Uber's employees annoyed; no one likes learning important news about their company from press reports.

"Nothing has been yet finalized, but having extensively discussed this with Dara I believe it is his intention to accept", Diller wrote in the memo, which was disclosed in a securities filing.

Khosrowshahi was born in Tehran, Iran, around the time of the Iranian Revolution.

While some tech CEOs have sought to stay out of politics, Khosrowshahi has been openly critical of President Donald Trump. He was quick to commit $3 million to accord legal defenses to drivers affected by the ban.

After white supremacists marched on Charlottesville, and Trump was slow to condemn them for the ensuing violence, Khosrowshahi tweeted, "I keep waiting for the moment when our Prez will rise to the expectations of his office and he fails, repeatedly".



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