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The Markets
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The Markets
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Proactive UK has moved.
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Software & services

Uber's journey continues as former Expedia head named new chief executive

Kalanick’s resignation was the result of pressure from a few big shareholders, who staged a revolt.

The journey of taxi app firm Uber continues as the board has chosen a new chief to replace Travis Kalanick.

The man filling the boots is 48-year-old Dara Khosrowshahi - an Iranian American and the former Expedia head.

It’s been a colourful year for $70bn firm Uber to put it mildly as it has bounced from one issue to the next in 2017; hit by sexism scandals, various lawsuits and the departure of several key executives, including that of its chief executive and founder Travis Kalanick in June.

READ - Uber founder Travis Kalanick resigns as CEO under pressure from key investors

READ - Softbank chief executive confirms Japan firm's interest in Uber and Lyft investment

Kalanick’s resignation was the result of pressure from a few big shareholders, who staged a revolt.

Shareholder Benchmark Capital - one of Uber’s early investors - is now suing Kalanick for breach of duty - accusing him of playing dirty in order to “increase his power over Uber for his own selfish ends”.

It wants to remove the 40-year-old from the start-up’s board of directors and bar him from interfering with business affairs.

Benchmark reportedly backed Hewlett Packard Enterprise chief executive Meg Whitman for the top job at Uber, while General Electric (NYSE:GE.) boss Jeffrey Immelt was also a front-runner.

Immelt dropped out of the race over the weekend and omn Twitter, said he had "decided not to pursue a leadership position at Uber".

Khosrowshahi has been boss of Expedia since 2005 and has been instrumental in expanding its global presence through several online travel booking brands, including Expedia.com, Hotels.com and Hotwire.

As the new Uber chief he is unlikely to be twiddling his thumbs as it fights fires on multiple fronts.

Uber is still in need of a chief operating officer, chief financial officer and head of finance

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