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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

Mike Allen, author of AM
3 hours ago - World

Courage vs. coddling with China

Peng Shuai of China serves during the China Open in Beijing in 2017. Photo: Andy Wong/AP

The women's professional tennis tour suspended tournaments in China Wednesday out of concern for Peng Shuai, on the same day that a top business voice made excuses for Beijing.

Why it matters: Ahead of February's Winter Olympics in Beijing, some sports figures are taking on the regime — while Big Business shrinks from confrontation with the world's second-largest economy.

3 hours ago - Sports

What to know about the first MLB lockout since 1995

Illustration: Shoshana Gordon/Axios

Hope you enjoyed the recent flurry of free-agent activity, because it's likely the last non-lockout-related MLB news for a while.

Driving the news: The owners locked out the players after the collective bargaining agreement expired at midnight last night, leading to MLB's ninth work stoppage — and first since 1995.

Biden extends mask mandates for travelers into 2022

President Biden delivers remarks at the White House on Dec. 1. Photo: Anna Moneymaker via Getty Images

President Biden will announce new testing protocols for international travelers on Thursday and extend masking requirements through March as the U.S. prepares to fight the Omicron variant this winter, according to senior administration officials.

Driving the news: The U.S. will tighten pre-departure testing protocols starting early next week by requiring all inbound international travelers to take COVID-19 tests within one day of their departure rather than three.