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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

Ben Geman, author of Generate
42 mins ago - Energy & Environment

Carbon emissions are roaring back from COVID-19

Expand chart
Data: IEA Global Energy Review 2021; Chart: Axios Visuals

Global energy-related carbon emissions will surge this year as coal, oil and natural gas consumption return from the pandemic that caused an unprecedented emissions decline, the International Energy Agency estimated Tuesday.

Why it matters: The projected rise of nearly 5% would be the largest since the "carbon intensive" recovery from the financial crisis over a decade ago, IEA said, putting emissions just below their 2019 peak.

1 hour ago - Axios Twin Cities

Jurors resume deliberations as the nation awaits Chauvin verdict

Protesters outside Hennepin County Government Center on the day of closing arguments. Photo: Christopher Mark Juhn/Anadolu Agency via Getty Images

Jurors in the Derek Chauvin trial resume deliberations Tuesday morning as the nation waits for a verdict.

The latest: The 12 jurors met behind closed doors for about three hours Monday before breaking for the night at 8pm.

John Frank, author of Denver
1 hour ago - Axios Denver

What national marijuana legalization would mean for Colorado

Illustration: Sarah Grillo/Axios

Colorado's cannabis industry is enjoying an era of prosperity as national attitudes toward marijuana become more relaxed.

Driving the news: 17 states have legalized recreational marijuana sales and pot enjoys its highest popularity ever with 68% of adults backing legalization, according to a recent Gallup poll.