August 28, 2017

Uber Appoints Expedia’s Dara Khosrowshahi as its new CEO

by Neha Monga

Ride-sharing service Uber has appointed Expedia’s chief executive Dara Khosrowshahi as its new CEO, according to two people familiar with the decision, ending a controversial search that has been marred by boardroom spats and leaks.

Khosrowshahi, 48, would take on the daunting task of changing Uber’s culture that has included sexual harassment and allegations of deceit and corporate espionage, repairing frayed relations among investors, rebuilding employee morale and creating a profitable business after seven years of losses.

Mr Khosrowshahi has not publicly confirmed whether he will accept the job. On Sunday night, the final paperwork for the appointment was still being signed, according to people close to the process, who said Uber could make a formal announcement as soon as Monday morning.

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Mr Khosrowshahi, who has run Expedia for 12 years, was not known to the public to be among the top candidates for the job.

He beat out Jeff Immelt, chairman of General Electric and one of the finalists for the job, who said he was no longer in the running.

Meg Whitman, chief executive of Hewlett Packard, had also been a leading candidate, according to sources close to the process.

Ms Whitman last month denied having any interest in the job.

Born in Tehran, the Iranian American businessman came to the US as a child in 1978 with his parents. He studied engineering at Brown University and started working with an investment bank. After that he worked for Barry Diller at IAC, which bought Expedia and then appointed Mr Khosrowshahi chief executive.

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Under Mr Khosrowshahi’s leadership, Expedia more than doubled its annual revenue since 2012 to nearly $8.8 billion in 2016.

The company reported net income of $281.8m for 2016.

In a previous statement, Mr Kalanick said he would support the new CEO “to guide Uber into its next phase of growth and ensure its continued success.”

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