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Uber picks new CEO

Monday, August 28, 2017 - 01:25

Uber chose Dara Khosrowshahi, the chief executive of Expedia, as its new CEO, handing him the challenge of leading the ride-services company out of a nearly year-long crisis. Fred Katayama reports.

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Uber tapped Dara Khosrowshahi to be its new chief executive. Until now, Khosrowshahi ran Expedia. On his watch, the company more than doubled its annual revenue. It also became the world's largest online travel agency by bookings. He'll replace Uber's co-founder, Travis Kalanick, who was booted out as CEO in June, amid concerns over his behavior and management style. Reuters senior technology reporter Heather Somerville is covering the story: (SOUNDBITE) HEATHER SOMERVILLE, SENIOR TECHNOLOGY REPORTER, REUTERS (ENGLISH) SAYING: "This election of a new CEO, particularly one that seems to be very well liked across industries, is a really good thing for Uber to start to put itself back together after nearly a year of scandals. But, one has to remember that there is an ongoing conflict on the board of directors, in-fightning among shareholders, and a lawsuit that one investor has filed against former, ousted CEO Travis Kalanick. So, there is an immense amount of challenges that remain at Uber that really threaten its future growth that Dara, frankly, can't do a whole lot about." Among other things that Khosrowshahi will also have to do - get Uber ready for an IPO, straighten its finances, and lead its growth. Uber was valued at $68 billion in 2016. Last week, the company reported an increase in ride bookings and net revenue, and smaller losses.

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Uber picks new CEO

Monday, August 28, 2017 - 01:25