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New Uber CEO aiming to go public as early as 18 months

01 September 2017

CEO Justin Effron talks about the meetings his company had with new Uber CEO Dara Khosrowshahi during his time at Expedia.

Dara Khosrowshahi, former Expedia CEO since 2005, left Expedia to take on the position of Uber's new CEO after months of searching.

His remarks are in contrast with his predecessor's thoughts on an initial public offering.

Khosrowshahi will meet with small groups of employees and spend time with drivers in the coming weeks, the company said.

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Uber founder Travis Kalanick, who stepped down as chief executive in June following pressure from investors, said at an investor conference last summer: "I say we are going to IPO as late as humanly possible".

"If culture is pushed top down, then people don't believe in it", Mr. Khosrowshahi said, according to Uber.

Number of years Mr Khosrowshahi led travel-booking site Expedia, prior to joining Uber.

It is also a key step towards filling a gaping hole in its top management that at the moment has no chief financial officer, head of engineering or general counsel.

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This company has to change.

The former chief was sued by Uber investor Benchmark in an attempt to remove him from the board of directors.

Casting a vote for the next chief executive of Uber was a big moment for me and I couldn't be happier to pass the torch to such an inspiring leader. But the firm and its board did not speak publicly on the decision until Tuesday evening, as contract negotiations were ongoing. Barron's Next suggested that investors had overreacted, even if outgoing CEO Dara Khosrowshahi had overseen significant progress at Expedia.

Okerstrom worked closely with Khosrowshahi for much of the past 11 years at Expedia, most recently as the company's chief financial officer.

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New Uber CEO aiming to go public as early as 18 months