Uber's key CEO candidate backs out at the last minute

30 August, 2017, 01:39 | Author: Barbara Daniel
  • Shervin is not liking Benchmark

Mr Immelt tweeted on Sunday that he had decided not to pursue a leadership position at Uber, despite his "immense respect" for the company and its founders.

The trouble between #Venture Capital Firm Benchmark, which holds 13% in Uber and ex-CEO Travis Kalanick has been going on for some months. The board has been looking for candidates who fit the requirements for being more conventional corporate leaders - while still encouraging Uber to innovate.

It looks like the battle over hiring Meg Whitman as the next CEO of Uber isn't entirely over.

Supposedly, Uber is anxious not just about criticism of Immelt's time at GE (his performance there was mixed), but also former CEO Travis Kalanick's eagerness to have Immelt take his old position.

But on Sunday, Immelt followed the lead of numerous former contenders for the position and removed himself from consideration-potentially forcing the ride-sharing giant to consider its two other remaining top picks, or depriving it of any consensus choice at all. "I have accepted the investors' request to step aside so that Uber can go back to building rather than be distracted with another fight", said Kalanick in a statement. She's now CEO of Hewlett Packard Enterprise.

Khosrowshahi has been CEO of Expedia since August of 2015.

The company's website says it has grown to become one of the largest online travel companies in the world under his leadership.

Last week, Uber said its sales reached $1.75 billion in the second quarter, up 17% from the previous quarter.

The company released its latest financial results after several mutual funds marked down the value of their stakes in Uber following a slew of PR crises. The thing that drove her away originally: if she were hired, she would want to run the company without Kalanick's interference.

Ride-sharing service Uber has picked Expedia's CEO Dara Khosrowshahi as its new CEO, according to United States media reports.

His departure came after former Uber engineer Susan Fowler in February wrote a 3,000-word blog post detailing allegations of sexual harassment and discrimination during her year at the company. That committee is trying to change the company's culture so it's better behaved, a hard task without a top leader. Immelt was viewed favorably by 47% of the respondents, a third of which said Immelt would do a better job than Kalanick as CEO. Kalanick was ousted under pressure from some of the company's major investors.

Recommended:



Popular

Angela Merkel backs calls for a Eurozone finance minister
Merkel said there could be no progress even in trade relations with Turkey if the rule of law was not guaranteed in the country. Last year, Bitterfeld-Wolfen made headlines when the AfD won more than 30 percent of the vote in a regional election.

New SC Rep. Norman supports Trump pardon of AZ sheriff Arpaio
His more controversial moves have included the jailing of illegal immigrants in tent cities and chain gangs for women inmates. Asked if Russian Federation poses a security threat, he replied: "I consider many countries as a security threat".

The BMW i3 has been updated and has received the sports version
BMW has coated the car's A-pillars and roofline in a glossy black finish, borrowing the scheme from other accents on the i3. While the regular i3 continues to produce 168bhp from its electric powertrain, the new i3s model offers 181bhp.

The original Xbox One has been discontinued
Interestingly, the console remains listed on Microsoft's United Kingdom online store, but mentions that it is "sold out". However, one can no longer buy a new Xbox One standard console in the US after the apparent discontinuation.

Hurricane Harvey forces Rangers and Astros to play at Tropicana Field
The Astros plan to fly to Dallas from Orange County on Sunday night, but the rest of their schedule is still undetermined. Late in 2008, the Astros had a series with the Chicago Cubs moved to Milwaukee because of Hurricane Ike's heavy rains.

Latest