Uber Finally Has a New CEO After Months of Drama

Jeff Immelt says not pursuing Uber CEO job

Jeff Immelt says not pursuing Uber CEO job

He remains on Uber's board. Finally, Khosrowshahi emerged as the "truce" candidate that all board members felt comfortable with.

Meg Whitman, CEO of Hewlett Packard Enterprise, had also been a leading candidate, but she last month denied having any interest in the job. And since Expedia is based in Bellevue, Washington, he has remained a Silicon Valley outsider, offering a contrast to the "tech bro" culture Kalanick established at Uber. YourStory has reached out to Uber for comment and we will update the story, as and when they respond.

Khosrowshahi, 48, an Iranian-born American businessman has been the CEO of Expedia since 2005 when the global online travel platform saw rapid expansion. It was created out of IAC's travel vertical but was later given a separate entity and Khosrowshahi was given charge of the ship and there is no doubt that he has done a stellar job.

- In 2015, Expedia gave Dara Khosrowshahi USD 90 million worth of stock options, in what can be termed as a retention amount for sticking with the company till 2020.

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

The Iranian-American Mr Khosrowshahi has run Expedia for more than a decade, and previous year had total remuneration of $US94.6 million, according to The Wall Street Journal - making him one of the S&P500's highest earning CEOs.

The Iranian-born U.S. citizen graduated from Brown University in 1991 having studied engineering. His family left the country during the Iranian Revolution when he was 9 years old, according to Bloomberg Businessweek.

He faces the hard task of changing Uber's culture that has included sexual harassment and allegations of deceit and corporate espionage.

Last week, Uber announced that it had narrowed losses to US$645 Million, and that total bookings have grown 17% in the previous quarter. The bulk of that came from a stock award worth almost $91 million at the time, which was scheduled to vest over the next five-and-a-half years.

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.

"Uber's primary problem is that they need to reestablish value and growth, and they have to do it right away", Cunningham told Chief Executive.

Cowen's Kopelman, however, believes that Expedia has a strong management bench, with largely independent teams of seasoned executives in place running the company's major divisions.

At the same time, Kalanick is being sued by Benchmark, a venture capital firm that was an early Uber investor.

It remains to be seen how Kalanick may continue to exert influence in his role as board member of Uber, and the Benchmark lawsuit is challenging a shareholder vote a year ago that gave Kalanick control over two additional, now unfilled board seats.

As Uber struggles, its competitors have been mobilizing overseas and at home.

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