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Former Expedia CEO takes helm of Uber on Wednesday

Former Expedia CEO takes helm of Uber on Wednesday”

Khosrowshahi [pictured above] will meet with employees on Wednesday during the company's all-hands meeting, the email said.

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.

A headhunter for Uber contacted Khosrowshahi about the CEO job at some point in the past few months, but he initially said he wasn't interested. But it took another two days to announce the news publicly.

"This company has to change", Khosrowshahi was quoted as saying inThe Wall Street Journal.

During his time at Expedia, Khosrowshahi made aggressive buys, such as the 2015 purchase of holiday rental service HomeAway for $3.9 billion and travel agencies Otis, Travelocity and Wotif. Startups and businesses in Bengaluru and Mumbai describe themselves as "an Uber for" whatever niche line of business they expect to make a success of in the digital age. And those who know Khosrowshahi say he's the "adult" that Uber's corporate culture sorely needs.

Uber has picked Expedia chief Dara Khosrowshahi as its new CEO.

Meg Whitman, CEO of Hewlett Packard Enterprise, had also been a leading candidate, but she last month denied having any interest in the job.

With a newly minted Uber CEO at the helm, there's hope Uber can improve and come out stronger after facing multiple crises - many of which are ongoing.

Immelt pulled out of the race Sunday because of problems with Uber's board, according to a source familiar with the matter.

Pressure from major Uber investors forced Kalanick to resign one week after beginning an indefinite leave of absence, shortly after an investigation into the company's workplace culture amid reports of sexual harassment and discrimination.

Mr Khosrowshahi inherits a dysfunctional board that has been divided by a lawsuit filed by investor Benchmark Capital against Mr Kalanick. The former Expedia CEO will replace Kalanick who was ousted as CEO in June after the series of controversies.



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