Uber Said to Pick Expedia CEO to Lead Company Out of Crisis

Shervin is not liking Benchmark

Investors generally support Immelt as the choice for Uber's next CEO, according to a survey conducted by Morning Consult on behalf of The New York Times.

Chairman Jeff Immelt said he won't join Uber Technologies Inc.as chief executive, after meeting with members of the ride-hailing company over the weekend. "I've decided not to pursue a leadership position at Uber", Immelt said.

This is just the latest twist in a legal battle for a company-and a founder-plagued by them.

The board has reportedly narrowed the search down to three people, with different factions of the board backing different candidates.

Immelt had stepped down from GE in June after company's share price fell rapidly in his long 16-year tenure even though he refashioned the company's focus to digital products.

It was a campaign launched by the venture capital firm earlier this year that saw the ouster of Kalanick as the CEO of Uber and ever since Benchmark has been trying to get the co-founder to step down from the board of the company.

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Kalanick resigned in June following months of PR crises and an investigation into the company's culture.

Lawyers for the two stockholders sent a letter to Uber's board demanding to look at Uber's books, Business Insider reported. It wants to force him off the board.

But in his response, Kalanick claimed that Benchmark "began secretly planning an effort to oust him" and "executed its plan at the most shameful of times" following the death of his mother in a May accident. The board has been looking for candidates who fit the requirements for being more conventional corporate leaders - while still encouraging Uber to innovate. Uber did not respond to a request for comment.

Pishevar alleged that Benchmark has tried to take over Uber's board of directors and tried to push through its own preferred CEO candidate, Meg Whitman.

Expedia CEO Dara Khosrowshahi has been named Uber's top executive, taking the hard job of mending the dysfunctional ride-hailing giant and turning it from money-losing behemoth to a profitable company. However, Whitman has publicly and staunchly rejected the possibility of becoming Uber's CEO, so her chances are slim. Meanwhile, the board itself disagreed with the Benchmark suit, releasing a statement signed by all members except Benchmark representative Matt Cohler that it was "disappointed that a disagreement between shareholders" has resulted in litigation.

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