Expedia names a new CEO as Dara Khosrowshahi heads to Uber

Thursday, 31 Aug, 2017

Huffington also said that the board vote on his hiring had been unanimous, meaning that Kalanick did not put up the fight that had been expected.

Khosrowshahi is known as an experienced top executive, willing to speak his mind and to advocate for women getting equal pay and leadership opportunities.

He replaces founder Travis Kalanick, who stepped down as chief executive in June following pressure from Uber investors after months of turmoil.

An Uber spokesperson said previous year that the company made the change to improve service.

"This company has to change", Khosrowshahi said in his remarks, according to the company.

Earlier on Sunday, Jeff Immelt, chairman of General Electric Co, said he was no longer in the running for the job.

Mayer told Business Insider on 19 July that she definitely wants a new CEO role and wouldn't comment on whether she would like to take the helm of Uber. Years of disregard for rules and regulations left Uber grappling with a wide-ranging sexual-harassment and workplace culture scandal, as well as a massive lawsuit from the Alphabet-owned driverless vehicle company Waymo.

The preliminary investigation is the latest in a series of legal wrangles at Uber as the ride-services company waits for its new chief executive to take the reins.

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How much of an impact Khosrowshahi can have on Uber is uncertain.

Benchmark responded a week later, excoriating Mr. Kalanick's motion as a "facile response" that did "not dispute the overwhelming factual basis for Benchmark 's allegations".

Benchmark argued the opposite, telling Glasscock that allowing Kalanick to fill the seats "and act as the decisive board vote would seriously damage Uber and its stockholders".

In an email to Expedia staff, Khosrowshahi said he was "scared" and had "forgotten what life is outside of this place [Expedia]". The publicly traded company is smaller than the privately held Uber, with a market capitalization of around $23 billion compared with Uber's private valuation of almost $70 billion.

The board announced the new CEO in a memo to employees, which Uber published on its website.

His family escaped Iran on the eve of the Iranian Revolution in 1978, when...

"With a deep passion for team building, Dara grew Expedia into one of the world's most successful travel and technology platforms". He trained as an engineer at Brown before eventually becoming Chief Financial Officer at IAC (InterActiveCorp).