Uber officially announces Dara Khosrowshahi as its new CEO

Lucy Hill
August 31, 2017

Khosrowshahi said Okerstrom is "a tireless, strategic, and steadfast leader".

For the 14-member, bitterly divided board of directors, which is now running its day-to-day operations, Mr Khosrowshahi is a compromise choice that the dysfunctional yet highly innovative company needs. "I have to tell you I am scared", he said in the letter, which was obtained by Recode. "He's made outstanding acquisitions at Expedia, which I think will be a big part of Uber's future".

"We're really fortunate to gain a leader with Dara's experience, talent and vision", Uber said in the message to employees. Denying the request, his lawyers wrote, "would expose the company to significant and unnecessary harm for no reason other than Benchmark's desire to use this forum to publicly slander Mr. Kalanick with its fabricated allegations".

Khosrowshahi, an Iranian immigrant, took the helm of Expedia (EXPE) when it spun out of InterActiveCorp's (IAC) IAC Travel division in 2005. He joined from Expedia which, according to a statement from Uber's board, "he built into one of the world's leading travel and technology companies".

Incoming Uber CEO Dara Khosrowshahi, former CEO of Expedia, addressed the ride-hailing company in an all-hands meeting Wednesday at the company's San Francisco headquarters.

The public revelation that HPE boss Meg Whitman was in the running for the Uber CEO job means her tenure at the vendor will soon end, one analyst suggests.

Khosrowshahi will have to address conflicts with regulators and taxi operators, a cut-throat company culture, sexism and board members feuding with investors over Kalanick.

YouTube changed the design of the app and website
Additionally, "in the coming months" you'll be able to jump between videos with a swipe - left for previous, right for next. ". Some of the main changes are the way YouTube is now joined up instead of being separated by white and black text colour.

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

The back-and-forth has also featured interjections from people loyal to Mr. Kalanick who are seeking Benchmark's removal from the Uber board. Kalanick's exit followed a storm of criticism about the company's misogynistic culture and a relentless stream of sexual harassment claims. "I was not a contender for this job until the weekend - and I'm not even sure I was then".

Beyond the boardroom battle, Khosrowshahi faces a long list of challenges at Uber.

Global Equities Research analyst Trip Chowdhry considered Khosrowshahi a fine choice to run Uber, but questioned whether one person can make a difference at a troubled company.

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

The ban was lifted early after the company paid a penalty of 190 million Philippine pesos (£2.88m; $3.72m).

Other reports by TheDailyFarc

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