Uber gets new CEO, former CEO at online travel company Expedia

Uber gets new CEO, former CEO at online travel company Expedia

Earlier this month, Uber investor Benchmark Capital filed a lawsuit against Kalanick to force him off the board and rescind his ability to fill two board seats, a move that divided the board and shareholders and for a while threatened to derail the search for a new CEO.

Shares of Expedia Inc fell on Monday after reports that the online travel firm's long-time chief executive, Dara Khosrowshahi, is likely to head Uber Technologies, triggering concerns his exit might hurt the company's growth. He said his family had been lured by the American dream "and now, our president is trying to pull it away from people of a certain origin and religious belief".

While Kalanick was briefly a member of Donald Trump's advisory council before an Uber boycott prompted his resignation, Khosrowshahi has been an outspoken critic of the United States president, particularly over his proposed travel ban.

Khosrowshahi's predecessor resigned in June following pressure from investors, after video footage was released by Bloomberg showing him berating an Uber driver who had complained about the difficulty of making a living.

While not much is known about Expedia's track record on minority hiring, past year the company issued the results of a study indicating that women were 51% of its workforce and occupied 35% of senior management positions.

Up to Friday's close of $149.26, Expedia's stock had risen about 32 percent this year, compared with a 29.4 percent increase in the Dow Jones Internet Commerce index.

Immelt withdrew Sunday and it was unclear if Whitman was ever really back in the race after multiple public statements disavowing interest. "He was very much no drama", said the person, who did not want to be identified because the board meeting was private.

Khosrowshahi also was at the helm when Expedia bought rival booking company Orbitz in 2015 for $1.6 billion.

He also is a member of the Expedia board, as well as boards of Fanatics Inc. and The New York Times Co., and he has an engineering degree from Brown University.

"Khosrowshahi leaving is a major loss for Expedia, which will likely sell off as a result", Cowen & Co analyst Kevin Kopelman wrote in a note.

The company now is being run by a 14-person group of managers and is without multiple top executive positions that will be filled by Khosrowshahi.

Uber's dysfunctional culture includes rampant sexual harassment and allegations of deceit and corporate espionage.

Khosrowshahi has served as a member of Expedia's board since it was spun off from IAC/InterActiveCorp. two years ago.

Since taking the job in 2005, Khosrowshahi helped expand the company to over 75 countries.

Khosrowshahi is now a member of the boards of directors of sports apparel and merchandise retailer Fanatics and the New York Times Co., and sits on the supervisory board of Trivago, a majority-owned subsidiary of Expedia.

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