Uber picks Expedia's Dara Khosrowshahi as new CEO

Uber's CEO Search Is Nearing a Decision

Last year, Khosrowshahi was found too be the highest paid USA chief in the S&P 500, and his pay grew more than any other - 881 per cent to $94.6m in cash and stock - after he agreed a long-term deal to stay at the firm until 2020.

Uber has selected Dara Khosrowshahi, the chief executive of Expedia, to serve as its new CEO.

The choice ends almost two months of constant speculation, as well as reported meddling by Kalanick, who still maintains a seat on Uber's board.

- He is related to Canadian-Iranian billionaire Hassan Khosrowshahi, who migrated to Canada after Iranian revolution.

Khosrowshahi took the helm of Expedia when it spun out of InterActiveCorp's IAC Travel division in 2005.

The company's problems started snowballing in February when former Uber engineer Susan Fowler wrote a blog post titled "Reflecting on One Very, Very Strange Year at Uber". A feat, for which, he was paid handsomely by the conglomerate, as per The Verge.

Khosrowshahi will face a company in crisis.

How much of an impact Khosrowshahi can have on Uber is uncertain. Although the Times states the appointment is confirmed, Recode reports that Khosrowshahi has not yet accepted.

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Whitman, 61, had previously said she planned to stay at HP and described speculation over her departure from the IT services group as a "distraction". CEO Dara Khosrowshahi to take up the reins as Uber's next chief executive officer.

Earlier in the morning, Immelt had tweeted: "I have decided not to pursue a leadership position at Uber".

People who know him said Khosrowshahi brings two assets to Uber. Another group of investors hit Benchmark back with a few nasty letters and a legal move of its own.

An Uber spokesperson revealed that finally the executive board has made a decision to offer someone the CEO role.

Uber has already fired 20 employees, some including senior positions, after evaluating more than 200 claims of sexual harassment, discrimination, bullying and unprofessional conduct.

Will new CEO choice be expedient enough to enable Uber to fly steady following a period of remarkable turbulence?

Five weeks after Uber Inc.co-founder Travis Kalanick resigned from the company following ongoing sexual harassment scandals, Expedia Inc.

The letter was the culmination of a pressure that had been building since the beginning of 2017.

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