Uber to appoint Expedia chief

Uber is to appoint Expedia’s Dara Khosrowshahi as chief executive of the global ride-hailing leviathan, writes Eric Newcomer 

He will succeed co-founder Travis Kalanick, who developed Uber into a $20bn (€16.7bn) annual booking business last year before scandals forced him out and likely comes with a price tag of about $200m.

Khosrowshahi will face a number of hurdles as Uber — which has raised more than $15bn from private investors — navigates its way toward a still-unscheduled initial public offering.

The new top executive must grapple with the company’s persistent losses, a high-stakes trade secrets suit filed by Alphabet’s Waymo, a tarnished brand and low morale among Uber’s more than 15,000 global employees.

Uber’s board met over the weekend for a last round of interviews with candidates.

Hewlett Packard Enterprise CEO Meg Whitman gained support from some board members after presenting her vision for the company on Saturday, despite repeated public denials that she would take the job.

General Electric chairman Jeffrey Immelt was another finalist but failed to win the board’s full backing. He withdrew his name in a Twitter post.

Khosrowshahi, who spent 12 years at the helm of Expedia, held unvested stock options in that company worth $184.4m as of Friday’s close in New York.

Companies typically grant replacement awards to executives who must forfeit unvested equity when they leave before their employment terms have expired.

The board ultimately went with a dark horse. Khosrowshahi hadn’t been named publicly as a finalist during a CEO search that was plagued by leaks, boardroom infighting and a lawsuit involving two directors.

The 48-year-old is an Iran-born American who graduated from Brown University with an engineering degree.

He is also one of the technology industry’s most outspoken CEOs in his opposition to some of president Donald Trump’s policies.

He spoke out against the immigration ban and mocked Trump on Twitter as repeatedly failing to “rise to the expectations of his office” after the president’s response to protests in Charlottesville, Virginia.

Bloomberg


Lifestyle

This Christmas remember that there is no such thing as cheap food.Buy local: Use your LOAF

As we wait, eager and giddy, a collective shudder of agitated ardor ripples through the theatre, like a Late, Late Toyshow audience when they KNOW Ryan’s going to give them another €150 voucher. Suddenly, a voice booms from the stage. Everyone erupts, whooping and cheering. And that was just for the safety announcement.Everyman's outstanding Jack and the Beanstalk ticks all panto boxes

Every band needs a Bez. In fact, there’s a case to be made that every workplace in the country could do with the Happy Mondays’ vibes man. Somebody to jump up with a pair of maracas and shake up the energy when things begin to flag.Happy Mondays create cheery Tuesday in Cork gig

More From The Irish Examiner