Back to the complete issue
Monday, 28 August 2017

Uber taps Expedia CEO as new boss

Uber has reportedly tapped Expedia CEO Dara Khosrowshahi to “lead it out of crisis,” Bloomberg reported overnight, just hours after former GE CEO Jeff Immelt said he had “decided not to pursue a leadership position at Uber” — and less than eight hours after Bloomberg itself reported that Hewlett Packard Enterprise CEO Meg Whitman was the leading candidate for the gig. Drama between Uber’s shareholders has had the ride-hailing company on the hunt for a new CEO since ex-boss Travis Kalanick was forced to resign in June. Benchmark, which owns 20% of Uber, had filed a lawsuit against Kalanick on charges of fraud earlier this month. A group of the company’s minority shareholders had then asked Benchmark to divest at least 75% of its stake in the firm and step off the board. The FT also has the story (paywall).

Closer to home, Uber and Mansour Automotive have reportedly inked an agreement that will give Uber drivers price cuts on 2017 Chevrolet Optra Comfort vehicles and spare parts through December 2017.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.