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Incoming Uber CFO Nelson Chai. Photo Illustration: Axios Visuals.

Uber on Tuesday announced that it has hired veteran Wall Street executive Nelson Chai as chief financial officer, a position that has been empty since 2015.

Why it matters: Companies need CFOs to go public, which is what Uber wants to do next year.

  • Chai most recently was CEO of Warranty Group, a Chicago-based provider of protection plans that private equity firm TPG recently sold to Assurant for $2.5 billion. TPG is an early Uber investor, and has a seat on its board.
  • Before that he was CFO at CIT Group and Merrill Lynch. Both companies were led at the time by John Thain, who was added as an Uber director late last year by fired CEO Travis Kalanick during a legal battle.
  • Chai also was CFO of the New York Stock Exchange.

The 53 year-old Chai tells Axios that he is he is looking forward to "the challenge" of leading finance for what he calls an "iconic and generational" company. As for his role in an IPO, he says:

"The company has made comments about it, but I can't say I'm on board yet with going public next year. I’ve been impressed with the information I’ve seen, but I don’t have enough insight until I really get in there to make sure we have the right processes and controls to be a public company.”

Chai will begin his role next month.

Go deeper

Updated 14 mins ago - Politics & Policy

Inauguration Day dashboard

U.S. Capitol and stage are lit at sunrise ahead of the inauguration of Joe Biden. Photo: Patrick Semansky - Pool/Getty Images

President Biden has delivered his inaugural address at the Capitol, calling for an end to the politics as total war but warning that "we have far to go" to heal the country.

What's next: Biden has arrived at the White House and he will sign executive orders and other presidential actions.

42 mins ago - Podcasts

Podcast: After the Biden inaugural

Joe Biden was sworn in today as America's 46th president in an inauguration unlike any other in modern history.

Axios Re:Cap goes deeper into the speech, the atmosphere and what it all tells us about the incoming administration, with Axios political reporters Hans Nichols and Alexi McCammond.

Biden embarks on a consequential presidency

Photo illustration: Sarah Grillo/Axios. Photo: Joe Raedle/Getty Images

Donald Trump tried everything to delegitimize the rival who vanquished him. In reality, he's set Joe Biden on course to be a far more consequential U.S. president than he might otherwise have become.

The big picture: President Biden now confronts not just a pandemic, but massive political divisions and an assault on truth — and the aftermath of the assault on the Capitol two weeks ago that threatened democracy itself.