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28 August 2017

Report: Uber Recruits New CEO

Dara Khosrowshahi hails from travel company Expedia

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Two months after Travis Kalanick resigned, Uber has reportedly found a new CEO. Dara Khosrowshahi, former top exec at Expedia, will take the reins amid a time of turmoil for the ride-hailing company, according to recent reports.

Uber has yet to formally announce its new CEO, but two sources with knowledge of the matter said Khosrowshahi was chosen on Sunday to fill the role. He could be the key to help Uber reach profitability, as he did for Expedia by more than doubling the company’s annual revenue from 2012 to 2016. Khosrowshahi’s appointment could also give the company a fresh start after a string of scandals. Not only is Uber under fire for using “Greyball” tech to evade authorities, but it has also faced allegations of sexual harassment in the workplace and a lawsuit alleging the company stole trade secrets from Google spin-off Waymo. And earlier this year, a video surfaced of Kalanick arguing with an Uber driver.

Kalanick was reportedly asked by shareholders to step down over concerns of his behavior. He left the company in June, not long after President Jeff Jones and head of business Emil Michael departed.

Although Uber has its fair share of scandal, the company also has reason to celebrate. Last week, Uber reported a 16-percent jump in ride bookings and a 17-percent increase in net revenue for the second quarter.

Source: Reuters

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