Expedia CEO to Lead Uber

Share

While the privately held Uber is not required to disclose such information, its ongoing litigation with Alphabet Inc.'s (GOOGL) (GOOGL) self-driving vehicle unit, Waymo, revealed that it handed out $250 million worth of Uber stock to lure engineer and executive Anthony Levandowski from the Google parent company. IAC bought Expedia back in 2003, then spun it out under Khosrowshahi's leadership in 2005. Following the resignation of Travis Kalanick, its founder last June, the start-up found itself without CEO, entangled in various scandals and with a strongly tainted image. Under Khosrowshahi's leadership, Expedia more than doubled its annual revenue since 2012 to almost $8.8 billion in 2016. Expedia collaborates with auto rental services and transportation companies worldwide to help its customers commute between destinations during their travels.

Curiously, neither Uber nor Khosrowshahi have made any announcement in this regard. The board of the beleaguered ride-hailing firm unanimously voted to hire Khosrowshahi following a nine-week search.

One main candidate is said to be Jeff Immelt, the former CEO of GE, who reportedly has the support of Kalanick and his faction. He said he expects a replacement CEO "sooner rather than later".

More news: Trump pardons ex-Arizona sheriff accused of racial profiling
More news: Trump calls on GOP to nix filibuster
More news: Nintendo Details SNES Classic Rewind Feature

Khosrowshahi's experience includes jobs managing finance and strategy, having worked in executive positions at IAC/InterActiveCorp and the investment firm of Allen & Company, according to his LinkedIn profile. He also serves on the board of The New York Times. He has also been an outspoken critic of President Donald Trump as well and has condemned his travel ban saying it "represents the worst of his proclivity toward rash action versus thoughtfulness".

Uber Technologies Inc.'s pick for the chief executive role is not going to come cheap. A move that made it look insensitive to a burning issue and cost it dearly as almost 200,000 users worldwide deleted the app in an expression of their resentment. While the business is growing, the company has been trying to reform its workplace culture following accusations of sexual harassment. "The President's order represents the worst of his proclivity toward rash action versus thoughtfulness", Khosrowshahi wrote in an email to some Expedia employees in January, according to The Seattle Times. He was quick to commit $3 million to accord legal defenses to drivers affected by the ban.

If he moves to Uber, Khosrowshahi will have to figure out a way to unite the board and end the acrimony.

Share