Dara Khosrowshahi Appointed as Uber’s New CEO

Image source LinkedIn

Former Expedia CEO Dara Khosrowshahi has been appointed as Uber’s new chief executive, following a unanimous vote by its board, the company confirms.

Dara Khosrowshahi will meet with staff for the first time on August 30, a statement from Uber said.

His appointment ends months of speculation about who would take the top job at the troubled company.

Dara Khosrowshahi replaces co-founder Travis Kalanick, who resigned in June following investor pressure after months of turmoil.

He came to America when he was 9-year-old, after his family fled Iran on the eve of the Iranian Revolution.

Image source LinkedIn

In 2005, Dara Khosrowshahi became chief executive of the online travel site Expedia, which operates in more than 60 countries.

In an email to staff posted on its website on August 29, the company said it was confident Dara Khosrowshahi was “the best person to lead Uber into the future.”

The announcement was widely anticipated, as Dara Khosrowshahi had already told news outlets he planned to leave Expedia for Uber.

He told Bloomberg News he was aware of the challenges, but was interested in working at a company that is “redefining the transportation industry”.

“Are there difficulties? Are there complexities? Are there challenges? Absolutely, but that’s also what makes it fun.”

“I am not in this to coast. I’m in it to get my hands dirty and build a team and do something that people will look back on with tonnes of satisfaction,” he said.

Dara Khosrowshahi earned about $2.5 million in total compensation at Expedia last year.

His pay has fluctuated wildly because of stock options. In 2015, he earned more than $94 million in total compensation, primarily due to stock awards.

Dara Khosrowshahi will face a number of challenges in his new role, as he seeks to improve both the bottom line and the company’s tarnished image.

Uber said on August 29 that it is cooperating with a US probe into possible bribery law violations.

Travis Kalanick left the firm in June after clashes with regulators in many countries, a trade secrets lawsuit and controversies about harassment.

Clyde K. Valle

Clyde is a business graduate interested in writing about latest news in politics and business. He enjoys writing and is about to publish his first book. He’s a pet lover and likes to spend time with family. When the time allows he likes to go fishing waiting for the muse to come.