Published: Wed, August 30, 2017
Sci-tech | By Jackie Newman

Expedia boss offered role of Uber CEO

Expedia boss offered role of Uber CEO

Uber has picked former Expedia (Frankfurt: A1JRLJ - news) boss Dara Khosrowshahi as its new chief executive to lead the firm out of a almost year-long crisis.

Kalanick, Uber's pugnacious co-founder, was ousted as CEO in June after shareholders representing about 40 percent of the company's voting power signed a letter asking him to step down amid growing concern over his leadership and the behaviour of senior managers under him.

Uber's board unanimously voted to hire.

While the privately held Uber is not required to disclose such information, its ongoing litigation with Alphabet Inc.'s (GOOGL) (GOOGL) self-driving auto unit, Waymo, revealed that it handed out $250 million worth of Uber stock to lure engineer and executive Anthony Levandowski from the Google parent company.

Uber picked Khosrowshahi to be its next CEO on Sunday. At the same time, the company still bears the imprint of Kalanick, who remains on Uber's board. "Uber's CEO will not be Meg Whitman".

In a February conference call with analysts, Khosrowshahi ended a discussion of Expedia's quarterly results with an ominous remark: "Hopefully we will all be alive to see the end of next year", he said.

Khosrowshahi is an Iranian-born immigrant whose parents found their way to the U.S. in 1978 following the Iranian revolution.

Khosrowshahi was born in Tehran, Iran, around the time of the Iranian Revolution.

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Former "Saturday Night Live" comedian Joe Piscopo also spoke at the rally and bashed political correct nonsense. Does that mean I'm not gonna get a rest stop named after me on the Jersey Turnpike?' he said.

In an interview with Reuters, Uber's chief security officer Joe Sullivan said the move is part of improving customer privacy, since he joined the ride-sharing giant two years ago. He went from Vice President for Strategic Planning to President for Interactive and finally became CEO of Expedia, the travel company IAC had just purchased, in 2005.

He graduated from Brown University in Rhode Island, United States in 1991 with a degree in Electrical Engineering.

But its shares fell by over 7 percent during market and after-market trading, as the rumor of Khosrowshahi becoming Uber CEO was confirmed.

However, Expedia board chairman Barry Diller appeared to confirm the choice in a filing with the Securities and Exchange Commission on Monday.

Expedia posted net income of $281.8 million in 2016 on turnover of almost $8.8 billion.

His pay has fluctuated wildly because of stock options.

Khosrowshahi, an Iranian refugee, has been open in his disdain for President Donald Trump, particularly his travel bans on people from several predominantly Muslim countries. (NYT), for which he serves as a member of the board.

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