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.



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