Change afoot
UBER’S NEW CEO LOOKS TO REBUILD COMPANY’S CULTURE WHILE ALSO TAKING ‘ BIG SHOTS.’
SAN FRANC I SCO/
GEORGETOW N • Uber Technologies Inc.’ s new chief executive Dara Khosrowshahi told employees on Wednesday the ride-services company would change its culture.
Khosrowshahi, who led travel- booking site Expedia Inc. for 12 years, made the remarks as he introduced himself to Uber’s workforce on Wednesday.
His plans i nclude 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 capital-backed companies to signal an IPO at a vague time in the future.
“This company has to c hange,” Khosrowshahi told employees, according to 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 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.
In his first meeting with Uber employees, Khosrowshahi emphasized recruiting new talent — particularly a chief financial officer — as well as a chairman to help him run the board, according to tweets from Uber.
Khosrowshahi inherits a board divided by a lawsuit filed by investor Benchmark Capital against Kalanick. The lawsuit, which seeks to force Kalanick off the board and rescind his ability to fill two board seats, has caused shareholder infighting.
Delaware Judge Sam Glasscock on Wednesday stayed the lawsuit and moved it to arbitration, which takes the legal fight out of the public eye.
“I think what we have here is a political battle that belongs in the boardroom and not the courtroom,” said Donald Wolfe, an attorney for Kalanick.
Glasscock stopped short of dismissing the lawsuit, as Kalanick had requested, because of concerns about the impact on other Uber shareholders who may also want to take legal action.