Expedia CEO named new CEO of ride-hailing giant Uber Technologies Inc

Javier Howell
August 30, 2017

This is just the latest twist in a legal battle for a company-and a founder-plagued by them. Immelt was among the finalists for job.

Immelt, who will remain GE's chairman until December 31, stepped down as CEO at the end of July.

He decided Saturday to pull out because of problems with Uber's board, according to a source familiar with the matter.

The incoming chief executive will have to find a way to balance a transformation of the company's culture with Mr Kalanick's continued presence.

Kalanick resigned in June following months of PR crises and an investigation into the company's culture.

Lawyers representing investors Shervin Pishevar and Stephen Russell sent a letter to the Uber Board on Thursday which invoked Rule 220 - a DE corporate law that gives individual stockholders the right to inspect corporate books. (In one infamous episode that was caught on video earlier this year, Kalanick unloaded onto an Uber driver who criticised the company's wages).

But in his response, Kalanick claimed that Benchmark "began secretly planning an effort to oust him" and "executed its plan at the most shameful of times" following the death of his mother in a May accident.

As the embattled transportation company's eight-person board deliberated for hours each day since Friday, members closed in on Whitman, 61, who had previously taken herself out of the running.

The source said Immelt did not see a path to being able to do the job with a "completely dysfunctional" board and a "disruptive" investor like Benchmark.

Uber didn't immediately respond to a request for comment. Uber originally promised t o hire a new CEO by September, and Benchmark has asked for an expedited hearing on its suit.

Another main candidate, Meg Whitman, is said to have the support of Kalanick's opponent, Benchmark.

Among other candidates in the race, Meg Whitman, the chief executive of Hewlett Packard Enterprise is in the race for CEO's position at Uber, Reuters reported.

Whitman, a longtime technology executive and former political candidate, had publicly and seemingly definitively withdrawn her name last month in a Twitter post. But now Bloomberg is reporting that she did meet with the board members on Saturday to present her vision for the company and has become a board favorite for getting the job. The company needs a CFO, COO, CMO and president. Other top executives, such as Uber's first employee and SVP of global operations, have also left the company recently.

Other reports by Insurance News

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