Monday, 23 October, 2017

Who Is Dara Khosrowshahi? 5 Facts About Uber's New CEO

Shervin is not liking Benchmark Shervin is not liking Benchmark
Preston Stone | 30 August, 2017, 01:40

Jeffrey Immelt, the former CEO of General Electric Company (NYSE: GE), reportedly isn't ready to retire from the business world and wants to take over the vacant CEO spot at Uber.

Mr Immelt tweeted on Sunday that he had decided not to pursue a leadership position at Uber, despite his "immense respect" for the company and its founders.

In his Twitter post, Immelt added: "I have huge respect for the company & founders - Travis, Garrett and Ryan" (the first names of Kalanick, Garrett Camp and Ryan Graves).

Sources said that going into this morning, after Immelt withdrew his name from contention after it was clear he would not win the job, Whitman had the upper hand in the race for the job.

Uber and a spokesperson for Immelt were not immediately available for comment.

But on Sunday, Immelt followed the lead of numerous former contenders for the position and removed himself from consideration-potentially forcing the ride-sharing giant to consider its two other remaining top picks, or depriving it of any consensus choice at all.

Benchmark cited that investigation, which focused on widespread sexism and sexual harassment at Uber, and a lawsuit brought against Uber by Google's Waymo over self-driving technology as reasons why Kalanick had to go and in their lawsuit against him now.

In February, during a conference call about Expedia's financial results, Khosrowshahi remarked: "H$3 opefully we will all be alive to see the end of next year".

Whitman said in June that she wouldn't move to Uber.

The company had reportedly faced a string of revolts from the shareholders, few of which demanded Kalanick's resignation.

Uber has chosen Expedia boss Dara Khosrowshahi to be its chief executive, ending months of speculation in the firm's search for a new leader.

Earnings figures first reported at news website Axios and confirmed by AFP showed that adjusted net revenue at Uber was $1.75 billion in the second quarter, more than doubling from about $800 million (roughly Rs. 5,125 crores) in the same period in 2016. In the absence of top leadership, Uber has been run by a 13-person committee. He retains a seat on the board and is battling with venture capitalist investor Benchmark Capital to keep the rights to appoint two more board members. Immelt was viewed favorably by 47% of the respondents, a third of which said Immelt would do a better job than Kalanick as CEO.

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