New Uber CEO Signals Change in First Staff Meeting

Published Date : Aug 31, 2017

Dara Khosrowshahi, the new CEO of ride hailing company Uber Technologies Inc., announced on Wednesday that he plans on changing the culture in the company. He also hinted at the possibility of an IPO in 18 to 36 months. Venture capital-backed companies usually signal an IPO at some point in the future.

Khosrowshahi earlier helmed a travel-booking site Expedia Inc. for almost 12 years. The announcements about Uber was made when he introduced himself to Uber’s workforce on Wednesday at meeting with all staff at its San Francisco headquarters.

Khosrowshahi Wants to Take the Company to New Level

Khosrowshahi stated before the employees that in order to take the company to the next level, the culture has to change. He felt that not just does the company needs to stabilize itself but also take long, big shots.

The announcements by the new CEO comes in the wake of a number of scandals that dealt a big blow to the company’s image and resulted in the removal of former CEO Travis Kalanick in June. The company has been seeing a management crisis of sorts. Against such a backdrop, the speech could not have been more well-timed.

As per his tweets, Khosrowshahi plans to hire new talents - particularly a chief financial officer - as well as a chairman to help him manage the board.

Kalanick, who attended Wednesday’s staff meeting, said he in a statement that he was looking forward to his replacement.

Khosrowshahi will now be taking charge of a board that stands divided on a lawsuit filed by investor Benchmark Capital against Kalanick.