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Home > News > Industry News > Uber appoints CEO

Uber appoints CEO

  • Author:Ella Cai
  • Release on:2017-08-29
Uber has appointed a new CEO – the head of Expedia Dara Khosrowshahi.

Something of a dark horse – Jeff Immelt and Meg Whitman were seen as front-runners – Kosrowshahi has headed up Expedia for 12 years.

Kosrowshahi, who is 48 years old, had options worth $180 million at Expedia so Uber must be paying him a fortune to get him to switch.

Apparently he is a level-headed, low-key manager in contrast to his predecessor.

During his tenure, Expedia bought Travelocity, Orbitz, and home rental site HomeAway.

Uber is losing over $600 million a quarter, has been beset by scandals and has burnt though some $8 billion of investor money but it still has $6.6 billion cash in the bank.

Uber can IPO to replenish the funds or it can raise prices to stem the losses. But raising fares might risk its competitiveness.