Source: Yahoo News
After two months of infighting, Uber’s board offered Expedia CEO Dara Khosrowshahi the Uber chief executive role — a role Khosrowshahi accepted just hours later, a source told Yahoo Finance.
The news came as a surprise to many, given numerous news reports pegged two other CEO candidates — GE chairman Jeff Immelt and Hewlett Packard Enterprises CEO Meg Whitman — as front runners. Remarkably, Khosrowshahi’s name remained a well-kept secret during the two months of discussions and deliberations among Uber’s board members.
But of the three candidates, Khosrowshahi, 48, may well be the best suited to steer Uber in the months and years ahead. During his 12 years as Expedia’s chief executive, he grew the business from $2.1 billion in annual revenues on $15 billion in gross bookings in 2005 to $8.7 billion in annual revenues on $72.4 billion in gross bookings in 2016. Khosrowshahi also led the acquisitions of the $1.3 billion merger with rival travel business Orbitz in 2015, as well as the $3.9 billion purchase of HomeAway that same year.
All in all, Expedia’s stock more than tripled during his tenure. That was a boon for shareholders, but also for Khosrowshahi, who received a total compensation of $94.6 million in 2015, according to a report compiled by Equilar and AP — $91 million of which came from a stock award scheduled to vest over the next five-and-a-half years.