- Title: Uber picks Expedia's Dara Khosrowshahi as new CEO - sources
- Date: 28th August 2017
- Summary: NEW YORK CITY, NEW YORK, UNITED STATES (FILE - APRIL 29, 2014) (REUTERS) TRAVIS KALANICK, FOUNDER OF UBER TECHNOLOGIES, TALKING ABOUT BEING A "TIME 100" HONOREE
- Embargoed: 11th September 2017 06:05
- Keywords: Uber names Dara Khosrowshahi new Uber CEO Uber board name new CEO former Expedia Inc
- Location: SUN VALLEY, IDAHO + NEW YORK CITY, NEW YORK, UNITED STATES / MUMBAI AND NEW DELHI, INDIA / UNKNOWN LOCATIONS
- City: SUN VALLEY, IDAHO + NEW YORK CITY, NEW YORK, UNITED STATES / MUMBAI AND NEW DELHI, INDIA / UNKNOWN LOCATIONS
- Country: Various
- Topics: Company News Markets,Economic Events
- Reuters ID: LVA0026W2L26F
- Aspect Ratio: 16:9
- Story Text: Uber Technologies Inc chose Dara Khosrowshahi, the chief executive of travel company Expedia Inc, as its chief executive on Sunday (August 28), according to two sources with knowledge of the matter, handing him the challenge of leading the ride-services company out of a nearly year-long crisis.
Khosrowshahi, 48, would take on the daunting task of mending Uber's image, repairing frayed relations among investors, rebuilding employee morale and creating a profitable business after seven years of losses.
In Khosrowshahi, Uber's board has picked an executive with a track record of driving growth while also delivering profits - precisely what the unprofitable Uber needs to satisfy investors. He has also proven capable of making Expedia the leader in another industry full of change and competition -- online travel.
But he would also have to contend with the legacy of Travis Kalanick, Uber's pugnacious co-founder, who was ousted as CEO in June after shareholders representing about 40 percent of the company's voting power signed a letter asking him to step down amid growing concern over his behaviour and the behaviour of senior managers under him.
The Uber board of directors has been meeting daily and deliberated on its pick for CEO throughout the weekend. A spokeswoman said on Sunday that the board had voted but was declining to disclose its choice publicly until after informing employees.
Khosrowshahi, who has run Expedia for 12 years, was not known to the public to be among the top candidates for the job. - Copyright Holder: FILE REUTERS (CAN SELL)
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