Uber sets its sights on former GE CEO Jeff Immelt
Former General Electric Co. Chief Executive Officer Jeffrey R. Immelt has emerged as the top candidate to take over the CEO job at Uber Technologies Inc.
Recode reported over the weekend that a majority of board members at the ride-hailing company favor Immelt, citing “numerous” unnamed sources. However, there are at least two other candidates who are reportedly still in the running, with Uber’s board members set to hold a vote on who will assume the role within the next two weeks.
“We know it is never going to be a perfect choice, but everyone is becoming exhausted,” one source told Recode, adding, “We need someone with the skills to move us along.”
Uber has been ticking along without a CEO since co-founder Travis Kalanick resigned last June. The company has also seen a number of other executives leave in recent months, leaving numerous vacancies, including its chief financial and chief operating officer positions.
Executives have departed the company for a variety of reasons, but most were the result of a series of scandals and controversies that have hit the company since the beginning of this year. The most damaging of these came about following an investigation into sexual harassment at the company and its workplace culture, which was kicked off following allegations of harassment by a former female employee.
That investigation found evidence of a number of such incidents, prompting Uber to fire more than 20 of its employees. Kalanick wasn’t one of them, but was later forced to resign following a revolt by company shareholders.
Unfortunately for Uber, the controversies haven’t ceased. Kalanick is now being sued by one of its early investors, Benchmark Capital, which accuses him of impeding the search for a new CEO and scheming to take back his old job. Kalanick has denied the allegations and is trying to get the suit dismissed.
Speculation that Immelt might be in line to take over from Kalanick emerged this month after he resigned from his position as GE’s CEO on Aug. 1. However, Immelt remains at GE as chairman of the board.
Whether or not Immelt would be a success at Uber, assuming he does take the job, remains to be seen. Although he is apparently favored by the majority of Uber’s board, his tenure at GE has come in for some criticism, as the company’s stock is trading lower than when he became CEO in 2001.
Immelt also has to deal with the fact that he probably wasn’t Uber’s first choice. Following the sexual harassment complaints, many have called on Uber to hire a woman to ensure that such incidents do not happen again. At one stage it was reported that Hewlett-Packard Enterprise Co. CEO Meg Whitman was the front-runner for the job, but she later went public to insist she is happy where she is.
Uber now seems to have given up on the idea of appointing a woman, as Recode said the other two unnamed candidates are also men.
Image: Wikipedia
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