Uber investor Benchmark's feud with Kalanick takes a new turn

Uber founder Travis Kalanick

The move comes after a weekend of frantic meetings with two other final candidates, Meg Whitman, chief executive of Hewlett Packard Enterprises, and Jeff Immelt, the departing chairman of GE.

Uber (Private:UBER) investor Shervin Pishevar has filed a legal document and sent the board a letter saying he needs to "intervene" in the Benchmark lawsuit accusing former CEO Travis Kalanick of fraud.

Mr Kalanick announced in June that he would take a leave of absence for an unspecified period and let his leadership team run Uber while he was gone. Recode hears that Uber is voting for its new leader today (August 27th), and it will tell employees about the choice by mid-week. Uber didn't immediately respond to request for comment. The company will hear from Immelt and an unnamed "dark-horse candidate" who will both present their strategy and vision for the future of the ride-hailing company.

Whitman has said she doesn't want the job. The online booking site is one of the largest travel agencies in the world.

But if Benchmark wins its suit against Kalanick, he'd be removed from Uber's board and any chance of his reinstatement as CEO would likely disappear.




Complicating thee hunt for a new CEO are rumors that Kalanick is plotting a return as CEO of Uber - something the company flatly denies.

Khosrowshahi has certainly done well for himself - in 2015 he was the highest paid CEO in the country, mainly because of a almost $91 million stock option grant. Kalanick enjoyed sweeping authority on the board and almost complete autonomy in running the company, a governance style that helped to create a workplace that had few checks and balances.

Earnings figures first reported at news website Axios and confirmed by AFP showed that adjusted net revenue at Uber was $1.75 billion in the second quarter, more than doubling from about $800 million (roughly Rs. 5,125 crores) in the same period in 2016.

Despite the controversies, Uber is still a growing company. In addition to that, the firm has accused that Kalanick is trying to control the company by nominating people close to him to seats on the board and that is what led to the lawsuit earlier this month. But after that search dragged on and Uber was hit with more bad news - including a trade secrets lawsuit from Google's self-driving vehicle arm, Waymo - major Uber shareholders Benchmark Capital pushed Kalanick to resign.

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