Uber may have found its next CEO

Uber Uber app Uber in-app chat Uber India Uber India app Uber chatting option Uber chat option Uber add multiple locations

Dara Khosrowshahi, Expedia's CEO for the last 12 years, has reportedly been asked to the lead the ride-hailing startup, which is valued at roughly $69 billion by investors in the private market.

Mr Khosrowshahi will replace Uber co-founder Travis Kalanick, who stood down in June following investor pressure after months of turmoil at Uber. Two anonymous sources with knowledge of the matter told Reuters on Sunday that Uber's board had chosen the 48-year-old executive who has been president and CEO of Expedia since 2005.

Several observers said that Khosrowshahi, coming from a more innovative company culture, seemed a more apt choice than either Immelt, 61, or the other leading candidate, Hewlett Packard Enterprise CEO Meg Whitman, also 61.

In the absence of top leadership, Uber has been run by a 13-person committee.

He will replace ousted CEO Travis Kalanick and faces the hard task of changing Uber's culture that has included sexual harassment and allegations of deceit and corporate espionage.

If and when he does formally accept, Khosrowshahi will be tasked with bringing Uber back from the brink of its public meltdown, attempting to bring peace to its warring board, and keeping its core business running. If he accepts the offer (some say he has), he will become the new CEO of Uber and going by reports that are making the rounds, he is able to save the company's sinking image and restore its financial losses.

Khosrowshahi was born in Iran in 1969, he emigrated to the U.S.as a child in 1978 following the Iranian Revolution. He graduated from an Ivy league school, earning a B.A.in electrical engineering from Brown University.

Expedia board chair Barry Diller told staff on Monday the move has not been finalised, but was in the works.

Khosrowshahi grew up in NY with his mother and two brothers after his father was detained for six years by authorities in Iran when he went in search of his own father.

The foursome plan to invest $1 billion to $1.5 billion directly into Uber at a $69 billion valuation and then buy as much as $10 billion worth of Uber shares from existing stakeholders. That's because Khosrowshahi is now sitting on about $184 million in unvested (EXPE) stock options as of Monday's close, according to FactSet, potential earnings he would give up if he left the online-travel company. The New York Taxi Workers alliance had called for the suspension of cab services at NYC's John F. Kennedy International airport as an expression of solidarity.

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