Start revving up your engines for this expected ad review
Steve’s breakdown: We’re thinking the “Earning & Chilling” campaign that’s running for Uber is going to be “reviewed” as soon as the new CEO settles in. Keep an eye on them.
SAN FRANCISCO, CA: Uber’s board of directors has picked Dara Khosrowshahi to be the company’s next CEO, multiple sources told CNN, Record and the New York Times. While the car-hailing company has yet to officially announce the appointment, or for that matter announce that Khosrowshahi has accepted the job, the replacement – once it happens – will fill former CEO Travis Kalanick’s spot since his resignation in June that followed an investigation into the company’s culture.
Travis Kalanick remains on Uber’s board. As for Khosrowshahi, he comes from Expedia where he has been CEO since 2005, when it spun out of InterActiveCorp’s IAC Travel division. Expedia rose from US$15 billion in bookings to $72 billion last year.
Prior to that, Khosrowshahi was IAC Travel’s CEO, as well as IAC’s chief financial officer. He has also served as a member of The New York Times Company’s (NYT) board of directors since 2015.
Uber’s board of directors had also considered Jeff Immelt, the former CEO of General Electric (GE), and Meg Whitman, the head of Hewlett Packard Enterprise (HPE, Tech30), sources said.
Khosrowshahi will face challenging tasks if he joined Uber as CEO. Jobs include handling legal battles, reducing financial losses, and repairing Uber’s internal culture.
Last week, Uber announced that it had narrowed losses to US$645 Million, and that total bookings have grown 17% in the previous quarter. However, its revenue was still down 14% year-on-year.
The company is also in need of a CFO, COO, CMO and president. Other executives, for example Uber’s first employee and SCP of global operations, have also left the company recently.