Uber appoints CEO
- Autor:Ella Cai
- Zwolnij na:2017-08-29
Uber has appointed a new CEO – the head of Expedia Dara Khosrowshahi.
Something of a dark horse – Jeff Immelt and Meg Whitman were seen as front-runners – Kosrowshahi has headed up Expedia for 12 years.
Kosrowshahi, who is 48 years old, had options worth $180 million at Expedia so Uber must be paying him a fortune to get him to switch.
Apparently he is a level-headed, low-key manager in contrast to his predecessor.
During his tenure, Expedia bought Travelocity, Orbitz, and home rental site HomeAway.
Uber is losing over $600 million a quarter, has been beset by scandals and has burnt though some $8 billion of investor money but it still has $6.6 billion cash in the bank.
Uber can IPO to replenish the funds or it can raise prices to stem the losses. But raising fares might risk its competitiveness.
Something of a dark horse – Jeff Immelt and Meg Whitman were seen as front-runners – Kosrowshahi has headed up Expedia for 12 years.
Kosrowshahi, who is 48 years old, had options worth $180 million at Expedia so Uber must be paying him a fortune to get him to switch.
Apparently he is a level-headed, low-key manager in contrast to his predecessor.
During his tenure, Expedia bought Travelocity, Orbitz, and home rental site HomeAway.
Uber is losing over $600 million a quarter, has been beset by scandals and has burnt though some $8 billion of investor money but it still has $6.6 billion cash in the bank.
Uber can IPO to replenish the funds or it can raise prices to stem the losses. But raising fares might risk its competitiveness.
