Published On: Mon, Aug 28th, 2017

Uber Names Expedia CEO Dara Khosrowshahi to Lead the Company

 

The ride-services company Uber Technologies Inc on Sunday chose Dara Khosrowshahi as its new CEO, according to world’s media. The chief executive of travel company Expedia Inc faces the challenge of leading the troubled company out of a year-long crisis. The decision was made late on Sunday. The company has made no official announcement publicly until after informing employees. According to Wikipedia, the offer Khosrowshahi has not yet accepted.

Travis Kalanick, Uber’s co-founder who was ousted as CEO in June after 40 percent of the company’s shareholders signed a letter asking him to step down amid growing concern over his behavior and the behavior of senior managers under him.

Uber CEO Travis Kalanick Resigns

 

Dara Khosrowshahi, 48, has been chief executive of online travel firm Expedia from 2005. Before joining Expedia, he served as the CEO of IAC Travel and worked at Allen & Company. He is serving as a board director for BET.com, Hotels.com and New York Times. Ernst & Young recognized Dara Khosrowshahi as a Pacific Northwest Entrepreneur of the Year award recipient in 2013. Arthur Sulzberger, Jr., the publisher, and chairman of the company praised Khosrowshahi’s “comprehensive digital and international experience, as well as significant financial expertise,” according to Wikipedia.

The San Francisco-based firm had been touted for the role the Hewlett Packard boss Meg Whitman and General Electric chairman Jeff Immelt. Both big names said they weren’t interested in the job.

Despite the turmoil the company suffered over the year, Uber is yet a company in growth. Last week, the company reported a 16 percent increase in ride bookings and 17 percent jump in net revenue for the second quarter over the previous period, and its losses shrank by 9 percent.

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