Uber on Tuesday confirmed Expedia's Dara Khosrowshahi as its new Chief Executive Officer who will replace the company's first CEO Travis Kalanick, effective today. Rumors of Mr. Khosrowshahi leaving the Bellevue, Washington-based travel service firm to join Uber have originally appeared over the weekend when the tech giant's Board of Directors reportedly approved his appointment following more than two months of searching for a new chief who would help the ride-hailing firm navigate through its currently troublesome period and help it pave the way toward future sustainability and corporate stability, both of which have yet to be achieved.
Uber originally disclosed the top management change in an email sent to its employees yesterday evening, stating that it's lucky to have secured a CEO with Mr. Khosrowshahi "experience, talent, and vision." The memo also referenced Uber's corporate culture, stating that its new chief will be set to lead the company toward a new chapter in which the San Francisco, California-based tech giant will strive to ennoble the lives of both its drivers and riders, in addition to "continuously improving" its own culture and turning Uber into "the best place to work." That particular statement is presumably a reference to recent accusations laid out by some of the company's former employees who claimed that Uber didn't do enough to stop its supposedly predatory corporate culture from thriving under its former CEO.
Mr. Kalanick himself remains a member of Uber's Board of Directors and was involved in its CEO search, though the firm's co-founder is currently facing a major legal battle with one of the company's earliest and largest investors, with Benchmark recently suing him for fraud in an attempt to completely oust him from the ride-hailing service provider in a move that prompted a major power struggle among Uber's stakeholders. It's currently unclear where Mr. Khosrowshahi stands on this particular matter, though it's likely that he'll attempt to distance himself from the ordeal and focus on leading Uber instead of getting involved in a conflict between its investors as much as circumstances allow him. Uber's new CEO is also expected to hold an "All Hands" session with the firm's employees later today which is when he's expected to share more details regarding his vision for the struggling company which is still the most valuable startup in the world, with its latest valuation amounting to approximately $68 billion.