Expedia's Khosrowshahi poised to take Uber CEO job

Expedia chief executive Dara Khosrowshahi has just been confirmed by chairman Barry Diller in a company memorandum that he intends to accept the ride-hailing company's offer.

Khosrowshahi will have to contend with the legacy of his predecessor, Kalanick, Uber's pugnacious co-founder, who was ousted as CEO in June after shareholders representing about 40 percent of the company's voting power signed a letter asking him to step down.

"Travis is a visionary who built a $69 billion company", Tusk said.

This change comes during a turbulent time for the company, following the departure of former CEO Travis Kalanick. Under Khosrowshahi's leadership, Expedia more than doubled its annual revenue since 2012 to almost $8.8 billion in 2016.

By market value, San Francisco-based Uber is triple the size of Expedia Inc., which is headquartered in Bellevue, Washington. "To go public, Uber at least needs to show a path to profitability, although they'll get a big pass as long as they continue to show growth".

The Iranian-American businessman was the highest paid chief executive in the USA in 2015, and saw Expedia's annual revenue double under his leadership.

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As Business Insider and other news outlets have reported, Uber's board has been meeting since Friday to try and pick a new CEO. One flank of directors campaigned for former General Electric CEO Jeffrey Immelt to take over the top job while another led by Silicon Valley venture capital firm Benchmark wanted Hewlett Packard Enterprise CEO Meg Whitman. That person also didn't want to be identified because board discussions are supposed to be private.

Khosrowshahi was born in Tehran, Iran, around the time of the Iranian Revolution.

Khosrowshahi has served as Expedia's CEO for 12 years, overseeing its acquisition of Orbitz and HomeAway and growing revenues from $2.1bn (£1.6bn) in 2005 to $8.7bn in 2016.

His pay has fluctuated wildly because of stock options. He has also been an outspoken critic of President Donald Trump as well and has condemned his travel ban saying it "represents the worst of his proclivity toward rash action versus thoughtfulness". If he accepts the offer (some say he has), he will become the new CEO of Uber and going by reports that are making the rounds, he is able to save the company's sinking image and restore its financial losses.

Uber has also been investing in autonomous driving technology, and provoked a lawsuit from the former Google auto unit now called Waymo that accused Uber of stealing trade secrets.

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