Jeff Immelt bows out of consideration for Uber CEO job
30 August, 2017, 01:42 | Author: Darnell Patrick
Ending the company's contentious search, Khosrowshahi was chosen by the board of directors at Uber Technologies Inc [UBER.UL] following the board meetings over the weekend, according to two sources having the knowledge of the decision, reports said. Earlier on Sunday, the leading candidate, former General Electric (GE) CEO Jeff Immelt, announced on Twitter that he had "decided not to pursue a leadership position at Uber", after it was made clear that he did not have enough support from the board, sources familiar with the decision-making process told the Washington Post.
Immelt didn't say what prompted the withdrawal, but it's an unusually open declaration given that Uber hadn't publicly discussed that he was in the running. The board has been looking for candidates who fit the requirements for being more conventional corporate leaders - while still encouraging Uber to innovate.
It said Uber must require that managers immediately reported discrimination, harassment or retaliation, and ensured that codes of conduct applied to offsite events and conferences.
But on Sunday, Immelt followed the lead of numerous former contenders for the position and removed himself from consideration-potentially forcing the ride-sharing giant to consider its two other remaining top picks, or depriving it of any consensus choice at all. She's now CEO of Hewlett Packard Enterprise.
Whitman was perhaps the most sought-after of the many female candidates for the Uber job, all of whom had either withdrew their applications or been ruled out.
Khosrowshahi has been CEO of Expedia since August of 2015.
He has been chief executive of online travel firm Expedia from 2005.
The company had reportedly faced a string of revolts from the shareholders, few of which demanded Kalanick's resignation. 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 lawsuitearlier this month.
The San Francisco-based company's adjusted net loss fell almost 14 percent to $645 million from the same quarter previous year, Uber confirmed.
Uber's crises have failed to knock the company's business off course, with revenues surging in the second quarter. Its board has become fragmented amid a legal fight between one of the company's top investors and Kalanick. The investors at Benchmark are anxious that Immelt might be too eager to please Kalanick and would give the ousted CEO too much power.
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