Dara Khosrowshahi, Uber’s CEO, underscores need for change of work culture, IPO in 18-36 months

Despite the troublesome inheritance, Khosrowshahi is firm on expanding Uber’s market share and taking

Dara Khosrowshahi, Uber Technologies’ new Chief Executive informed employees that the company’s work culture will undergo change and that it is likely to go public in the next 18-36 months.

Khosrowshahi made these disclosures while introducing himself to Uber’s employees during an all-staff meeting at its San Francisco headquarters. His plans include not only rebuilding Uber’s work culture but also expand its market share and possibly even take it public in the next 18-36 months, said sources who attended the meeting.

“This company has to change,” said Khosrowshahi to employees, according to Uber’s communications team’s Twitter feed.

“What got us here is not what’s going to get us to the next level.”

While Khosrowshahi emphasized that Uber needs stability, however it also needs to make “big shots.”

Khosrowshahi’s appointment as Uber’s CEO comes in the wake of Uber trying to recover from a series of crises that culminated in the ouster of its founder and former CEO, Travis Kalanick in June. It is also a key step toward filling a massive hole in its top management, which still lacks a CFO, general counsel and head of engineering.

In the meeting, Khosrowshahi emphasized on the need for recruiting new talent, particularly a chief financial officer and a chairman to help him run the board, reads the Twitter feeds from Uber.

Kalanick, who attended the staff meeting, welcomed his replacement.

“Casting a vote for the next chief executive of Uber was a big moment for me and I couldn’t be happier to pass the torch to such an inspiring leader,” said Kalanick.

Clearly, Khosrowshahi inherits a dysfunctional board that is of two opinions on the lawsuit filed by Benchmark Capital, an investor, against Kalanick.

On Wednesday, Delaware Judge Sam Glasscock brought that dispute closer to a resolution when he stayed the lawsuit and moved it to arbitration, which moves the legal fight out of the public eye and hands a victory to Kalanick.

“I think what we have here is a political battle that belongs in the boardroom and not the courtroom,” said Donald Wolfe, an attorney for Kalanick.

However, Glasscock stopped short of dismissing the lawsuit against Kalanick, which incidentally Kalanick had requested, out of concerns on the impact the dispute is likely to have on other Uber shareholders who may also want to take recourse to legal action.

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Categories: Creativity, Entrepreneurship, HR & Organization, Regulations & Legal, Strategy, Sustainability

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