New CEO vows change in company’s culture
Uber Technologies Inc’s new chief executive Dara Khosrowshahi told employees on Wednesday the ride-services company would change its culture and may go public in 18 to 36 months.
Khosrowshahi, who led travel-booking site Expedia Inc for 12 years, made the remarks as he introduced himself to Uber’s workforce on Wednesday during an all-staff meeting at its San Francisco headquarters.
His plans include rebuilding Uber’s culture and growing market share as well as possibly conducting an initial public offering in 18 to 36 months, according to people who attended the meeting. It is common for venture capitalbacked companies to signal an IPO at a vague time in the future.
“This company has to change,” Khosrowshahi told employees, according to the Twitter feed of Uber’s communications team. “What got us here is not what’s going to get us to the next level.”
Khosrowshahi said Uber needed to stabilize itself but also take what he called “big shots.”
The appointment of Khosrowshahi comes as Uber is trying to recover from a series of crises that culminated in the ouster of its former CEO Travis Kalanick in June. It is also a key step toward filling a gaping hole in its top management that at the moment has no chief financial officer, head of engineering or general counsel.
Khosrowshahi inherits a dysfunctional board that has been divided by a lawsuit filed by investor Benchmark Capital against Kalanick.