First comments from Uber's new CEO

Violet Tucker
August 31, 2017

'This has been one of the toughest decisions of my life, ' he said in his email.

'I have to tell you that I'm scared, ' he wrote in the note, which was shared with Reuters.

But, he continued, "you have to move out of your comfort zone and develop muscles that you didn't know you had". He's replacing ousted leader and co-founder Travis Kalanick, and will be charged with getting the company on track after its annus horribilis. Investigators are also still looking into the company's "Greyball" tool, which is reportedly what Uber used to bypass regulators in cities where their service is banned or blocked.

In a memo to Uber's employees, Uber's board said, "We're really fortunate to gain a leader with Dara's experience, talent, and vision". He took over Expedia in 2005 and became the highest-paid CEO in 2015 when the global travel aggregator awarded him a $94.6 million salary for signing a long-term agreement.

Khosrowshahi also said it will be important to bring in a chairman to be his partner at the board level, which will drive agenda & rhythm of the board. Reports that the former Expedia boss had accepted the role surfaced earlier this week. "This is not something I was looking for", he said. "I have vast respect for the company & founders - Travis, Garrett and Ryan", he wrote on the social network.

Spokespeople for Uber and Expedia didn't immediately respond to a request for comment.

Kalanick, who attended Wednesday's staff meeting, welcomed his replacement in a statement.

Khosrowshahi also has to deal with an Uber board that's boiling with internal battles between investors, mostly over Kalanick's position within the company.

The Benchmark suit, filed on August 10, accuses Mr. Kalanick of failing to inform investors about mismanagement at Uber. And the company is still working to fix its culture after an investigation into sexual harassment allegations.

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Now, the ride-hailing app is on the search for someone to take Kalanick's place and steer it onto the right course.

Uber also paid $5.87m in financial assistance to drivers.

Who could the next CEO of Uber be?

That left Khosrowshahi, whose candidacy wasn't made public until Sunday. "I was not a contender for this job until the weekend - and I'm not even sure I was then". Should he accept the job, his first new scandal is the company's alleged bribery practices in other countries.

Immelt is leaving GE after spending 16 years at the company and his departure date is set to be on 31 December 2017, although his successor John Flannery will take over at the start of August.

The new CEO will have his work cut out for him, though.

Mayer was Yahoo's CEO before Verizon completed its acquisition of the company.

Earnings figures confirmed by AFP showed that adjusted net revenue was $1.75 billion in the second quarter, more than doubling from about $800 million in the same period in 2016.

Other reports by Guamnewswatch

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