Uber Hires a New Chief Executive Officer

Uber Hires a New Chief Executive Officer

In his first public comments since Uber Technologies Inc. selected him as its new chief executive, Expedia Inc.

While not a tech celebrity, Khosrowshahi has had a very impressive and respectable run during his long tenure at Expedia, growing its revenues from $US2.1 billion in in 2005 to $US8.7 billion in 2016. Whitman, who herself had sworn on Twitter in July that "Uber's CEO will not be Meg Whitman", inserted herself back into the running over the weekend and even tried to use Immelt's backing out as leverage to reduce Kalanick's role on the board, according to the New York Times.

Dara is the current chief executive officer of Expedia. Expedia went through a big growth phase just like Uber, and has mastered making money on travel booking transactions, something that's only an aspiration for Uber.

Expedia Inc.'s stock (EXPE:OTC) was up 32 percent in the Trump bull market this year before the Uber news leaked. Waymo claims that Uber stole trade secrets when it brought on engineer Anthony Levandowski, a former Alphabet employee, as part of a $680 million acquisition of the startup Otto past year.

He inherits at Uber a high-stakes lawsuit filed by Alphabet Inc's Waymo that threatens Uber's self-driving auto business, a board divided by one investor's lawsuit against Kalanick, and an organization struggling to overcome allegations of sexual harassment and executive misconduct. Uber is also the subject of a US probe into its use of software to deceive law enforcement officials, a program known as Greyball. In an attempt to fix its reputation, Kalanick had earlier in the year said he would take a leave of absence as the CEO. Whitman told the Financial Times on Monday that Uber had yet to resolve Kalanick's future role at the company and an explosive lawsuit about it.

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Khosrowshahi, 48, is an Iranian immigrant who came to the United States with his parents in 1978 during the Iranian Revolution. He's now leaving for Uber, having turned his former company into one of the world's biggest travel agencies.

At Expedia, Khosrowshahi has been an outspoken chief executive.

"We're really fortunate to gain a leader with Dara's experience, talent and vision", said the Uber board in a joint statement.

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. Add your questions for Dara here, and stay tuned for a calendar invite with more details.

Please join us in welcoming Dara on what promises to be an exciting ride!