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Dara Khosrowshahi elected Uber CEO

Dara Khosrowshahi elected Uber CEO

Dara Khosrowshahi, CEO of Expedia, has been tapped to replace former CEO and Uber founder Travis Kalanick.

As CEO, Khosrowshahi will be tasked with helping Uber pick up the pieces after a tumultuous year defined by scandal, departures and lawsuits.

It remains to be seen what goals the Uber board has in mind for the company under Khosrowshahi's leadership; how much control Kalanick will retain over Uber's direction; how much Uber agreed to pay Khosrowshahi to take on the daunting assignment; and whether he was able to negotiate any conditions before taking the job-if he has agreed to do so.

Khosrowshahi, who has been at Expedia's helm since 2005, offers a contrast to Kalanick, who briefly served on President Donald Trump's business advisory council.

But Uber's future became murkier this year when the company was pummelled by scandal after scandal, including sexual harassment accusations in the workplace, a Department of Justice criminal investigation into some of its methods, and an intellectual property dispute with a self-driving vehicle rival. The short list included Jeff Immelt, the former CEO of General Electric, and Meg Whitman, the head of Hewlett Packard Enterprise.

A major Uber investor, Benchmark Capital, decided Kalanick was a liability to an investment now valued in the billions, and forced him to resign from the company he co-founded with Garrett Camp. Matt Cohler, a partner at Benchmark who recently took a seat on Uber's board, worked closely with IAC to steward the development of the dating app Tinder in recent years. After graduating with an electrical engineering degree from Brown University, Khosrowshahi joined Allen and Co as an analyst in 1991. The company also is losing millions every quarter as it continues to expand and invest in self-driving cars. Before that he served as CEO of IAC Travel, where he helped with the initial expansion of its travel brands, according to a biography on the company website. Expedia didn't immediately respond to requests for comment.

Meanwhile, Khosrowshahi's most combative moment as Expedia CEO was his criticism of Google Inc.'s promotion of its travel services over Expedia's during hearings in the search giant's recent European Union antitrust case, which ended with a €2.4 billion fine in June.

But there are also significant differences, both between Khosrowshahi and Kalanick, and Uber and Expedia's businesses. It won't be an easy challenge for him as the company has already spiraled down, but this will be a new step forward for Uber. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market. Recode and other news outlets did not confirm Sunday night whether Khosrowshahi has accepted the CEO position.


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