Business / #ForbesBusiness

August 28, 2017,   12:11 PM

Uber Selects Expedia's Dara Khosrowshahi As New CEO

Farah Al-Toukhi


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After many delays and the eventful exit of former CEO Travis Kalanick, Uber has announced that is has chosen Dara Khosrowshahi, CEO of travel company Expedia Inc, to be the new chief executive of the car hailing service.

Forbes Middle East reported in June that Kalanick stepped down as CEO after the majority of shareholders demanded his resignation.

Benchmark, a venture capital firm and one of Uber's major shareholders, filed a lawsuit against former CEO Travis Kalanick, accusing him of “fraud, breaches of fiduciary duty, and breaches of contractual obligations […]”on August 10th. Benchmark was then asked by a group of Uber shareholders loyal to Kalanick to step down from the board.

Khosrowshahi had not been announced as a contender publicly. Other CEO's who were considered for the position included Jeff Immelt, chairman of General Electric Co, and Meg Whitman, chief executive of Hewlett Packard Enterprise.

Under Khosrowshahi’s leadership, Expedia more than doubled its annual revenue since 2012 to nearly $8.8 billion in 2016. He is also an active board member of the New York Times Company and sports merchandise company Fanatics Inc.

Dara Khosrowshahi has not made a statement regarding this announcement.





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