Aug 28, 2017

Uber picks Expedia boss as CEO

AP Photo/Paul Sakuma

Uber has picked Expedia CEO Dara Khosrowshahi as its next chief executive, as first reported by Recode and confirmed by Axios. A formal announcement could come as early as tomorrow.

Why it matters: Uber is the most highly-valued, pre-IPO tech startup in history — with dozens of venture capital firms (and their investors) having already baked in its success. It also has become one of Silicon Valley's most contentious corporate soap operas, while continuing to generate billions in revenue by having helped revolutionize global transportation.

Backstory: Coming into the weekend, there were two official finalists: Khosrowshahi and General Electric chairman Jeff Immelt. But Immelt got the sense by this morning that he didn't have enough support on the Uber board — despite (or perhaps because of) backing from former Uber CEO Travis Kalanick — and formally withdrew from consideration. That seemed to only leave Khosrowshahi, but multiple sources say that Hewlett-Packard CEO Meg Whitman reemerged as a serious contender, despite also having publicly bailed on the process late last month after her name leaked. In fact, Whitman was still in the mix as of early afternoon on Sunday.

Bio: Khosrowshahi has been CEO of Expedia since 2005, most of which time the travel site was part of IAC/InterActiveCorp (it spun out independently in 2005). Before that he served in other executive roles with IAC, and also spent time as an investment banker with Allen & Co. He currently sits on the boards of Fanatics and The New York Times Co.

Fun fact: Expedia was founded and initially led by Rich Barton, who once was a partner with Benchmark Capital — the VC firm that is Uber's largest outside shareholder, and the one suing Kalanick for fraud.

What's next? Uber is still missing a slew of senior positions, including chief financial officer, chief operating officer and global head of operations. It also needs to name an independent board chair, per an accepted recommendation of Eric Holder's recent report into sexual harassment and other negative aspects of Uber's corporate culture.

The story has been updated with the correct date Expedia was spun off.

Go deeper

Biden formally secures Democratic presidential nomination

Joe Biden speaks at Delaware State University's student cente on June 5. Photo: Jim Watson/AFP via Getty Images

Former Vice President Joe Biden became the formal Democratic presidential nominee on Friday evening, per AP.

The big picture: Biden has been the presumptive frontrunner to take on President Trump since Sen. Bernie Sanders suspended his campaign in early April.

Updated 8 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 9 p.m. ET: 6,724.516 — Total deaths: 394,018 — Total recoveries — 2,996,832Map.
  2. U.S.: Total confirmed cases as of 9 p.m. ET: 1,894,753 — Total deaths: 109,042 — Total recoveries: 491,706 — Total tested: 19,231,444Map.
  3. Public health: WHCA president says White House violated social-distancing guidelines to make reporters "a prop" — Jailing practices contribute to spread.
  4. Sports: How coronavirus could reshuffle the sports calendar.
  5. Jobs: Better-than-expected jobs report boosts stock market.
  6. Media: The Athletic lays off 8% of staff, implements company-wide pay cut.

Scoop: German foreign minister to travel to Israel with warning on annexation

Heiko Maas. Photo: Michael Kappeler/picture alliance via Getty Images

German Foreign Minister Heiko Maas is expected to travel to Israel next week to warn that there will be consequences if Israeli leaders move forward with plans to annex parts of the West Bank, Israeli officials and European diplomats tell me.

Why it matters: Israeli and European officials agree that if Israel goes ahead with unilateral annexation, the EU will respond with sanctions.