What's going on?

After months of searching, Uber is getting a new CEO (tweet this) � filling a void at the top of one of the world�s most valuable private companies.

What does this mean?

Ever since Travis Kalanick (Uber�s former CEO) was forced to step down at the behest of the company�s board back in June, there�s been an empty seat at the helm of Uber. There�ve been quite a few executives in the mix to potentially take over Uber, including GE�s former CEO Jeff Immelt and HP�s current CEO Meg Whitman.


After a good deal of speculation and debate, Uber�s board of directors (which includes several of its investors) has chosen Dara Khosrowshahi, the current CEO of travel website Expedia.

Why should I care?

For markets: Khosrowshahi seems like a safe choice for Uber.

Considered somewhat of a dark horse in the race for CEO, Khosrowshahi has led Expedia since 2005 and spearheaded many of its acquisitions in the online travel industry (the company�s stock price has also increased by about sevenfold under his leadership). Uber�s board is likely hoping that his expertise and experience in tech will help provide stability and coherent leadership.

The bigger picture: But, the drama isn�t over at Uber yet.

Uber still needs to hire various other new senior executives (including a CFO, COO, and others). There�s also an ongoing legal battle: one of Uber�s biggest investors has sued Kalanick (who�s still on the board of directors) for fraud as they both vie for influence over the company�s future. Hiring a new CEO is an encouraging first step, but there�s plenty more work to be done to stabilize Uber before it, potentially, attempts to complete an IPO (i.e. become a publicly traded company).