Expedia CEO Dara Khosrowshahi Plans to Accept Uber's CEO Job

by Fredrick Graves August 30, 2017, 1:27
Expedia CEO Dara Khosrowshahi Plans to Accept Uber's CEO Job

Khosrowshahi is known as an experienced top executive, willing to speak his mind and to advocate for women getting equal pay and leadership opportunities. Seattle-based Expedia and Amazon joined forces to support Washington State's lawsuit against President Trump's controversial "travel ban" Executive Order in March.

Kalanick has not publicly commented on the expected appointment of a new Uber CEO.

While the selection of a new CEO with a strong track record may put Uber on the road to recovery from such setbacks, a boardroom battle continues to distract the company.

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Mediation attempts led by countries such as Kuwait and the U.S. have so far failed to make headway toward settling the crisis. Earlier, the ministry announced on its website that its ambassador to Tehran "will return to resume his diplomatic duties".

During Khosrowshahi's 12-year tenure, Expedia's share price has increased eight times, while its market capitalization has expanded by $18 billion, RBC Capital Markets analyst Mark Mahaney said. Investors value the company at $68 billion, according to The Wall Street Journal (http://graphics.wsj.com/billion-dollar-club/), the most valuable venture-backed private company tracked by the Journal.

But if Khosrowshahi is well positioned to fix the many pressing issues that have plagued Uber throughout this year, he also has the potential to create a new one: getting in President Trump's crosshairs. Wingz previously had $2.7 million in backing. He said he expects a replacement CEO "sooner rather than later". Khosrowshahi made a point of personally using Wingz, he said, while Expedia added a feature allowing travelers to book airport rides with Wingz.

At Expedia, Khosrowshahi faced bruising competition from Priceline Group but was credited with turning things around, in part with an acquisition spree that included two travel rivals, Travelocity and Orbitz; vacation-rental company HomeAway; Australian booking site Wotif; and German hotel-comparison site Trivago. According to Recode, Khosrowshahi is yet to formally accept his new assignment and, it is possible, that the company is waiting for just that to happen before making an official announcement. It is also reportedly facing a Department of Justice probe over a tool it built to help drivers dodge law enforcement. Absolutely, but that's also what makes it fun. He has previously vowed to "guide Uber into its next phase of growth and ensure its continued success". The company's adjusted loss for the quarter before interest and taxes was $645 million. The travel platform said at the time it was "investing early" in an array of payment options for its customers.

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