Uber power struggle continues

Uber's former chief executive has appointed two former corporate titans to the board of the company.

Uber co-founder Travis Kalanick on Friday said he had appointed two new directors, a surprise move that publicly reignited a board battle over the role of the ousted former chief executive.

Uber investors are divided over whether Kalanick, who was pressured to step down as CEO earlier this year in the wake of several company scandals, should be on the board and whether he can name two other directors.

The company and new chief executive Dara Khosrowshahi are scrambling to portray Uber as a reformed company that is responding to concerns including sexual harassment claims and a bribery probe.

Kalanick, still one of the largest shareholders, said in a statement he had appointed former Xerox boss Ursula Burns and former Merrill Lynch chief executive John Thain as directors.

"I am appointing these seats now in light of a recent board proposal to dramatically restructure the board and significantly alter the company's voting rights," Kalanick said.

"It is therefore essential that the full board be in place for proper deliberation to occur, especially with such experienced board members as Ursula and John," he said.

The appointments were a "complete surprise" to Uber and its board, the company said in a statement.

"That is precisely why we are working to put in place world-class governance to ensure that we are building a company every employee and shareholder can be proud of," it added.


Share

2 min read

Published

Source: AAP



Share this with family and friends


Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Download our apps
SBS News
SBS Audio
SBS On Demand

Listen to our podcasts
An overview of the day's top stories from SBS News
Interviews and feature reports from SBS News
Your daily ten minute finance and business news wrap with SBS Finance Editor Ricardo Gonçalves.
A daily five minute news wrap for English learners and people with disability
Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS
SBS World News

SBS World News

Take a global view with Australia's most comprehensive world news service
Watch the latest news videos from Australia and across the world