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Uber finally hired a CFO, after a three-year hunt [Recode]

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ryanLarson
46
 Posted 8 months, 3 weeks ago

So you are telling me they didn't have a CFO this whole time?  Since 2015?

When Uber CFO Brent Callinicos left the company in 2015, he created a vacancy that has cast a shadow over the company for the past three years.

Now, after a series of fits and starts in the search for a viable candidate, the company has finally hired a CFO. Nelson Chai, most recently the CEO of insurance firm The Warranty Group, will be tasked with stewarding the company’s initial public offering Uber executives have slated for late 2019.

Finding someone to take on the coveted albeit demanding role over the last year or so has been challenging. Under Uber CEO Dara Khosrowshahi, the company has gotten close to securing a candidate at least twice, several sources told Recode. Most recently, the company had made an offer to VMware CFO Zane Rowe but Rowe declined the offer, Recode confirmed. The Wall Street Journal first reported the talks. The reasons Rowe declined are not clear.

That struggle is not a new one, however. Both board members and top staffers have called former CEO Travis Kalanick’s inability, often described as outright hesitance, to replace Callinicos into question, sources have told Recode. Former Uber board member and Benchmark partner Bill Gurley, for instance, has been the most vocal about the need for companies to go public.

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So you are telling me they didn't have a CFO this whole time?  Since 2015?

When Uber CFO Brent Callinicos left the company in 2015, he created a vacancy that has cast a shadow over the company for the past three years.

Now, after a series of fits and starts in the search for a viable candidate, the company has finally hired a CFO. Nelson Chai, most recently the CEO of insurance firm The Warranty Group, will be tasked with stewarding the company’s initial public offering Uber executives have slated for late 2019.

Finding someone to take on the coveted albeit demanding role over the last year or so has been challenging. Under Uber CEO Dara Khosrowshahi, the company has gotten close to securing a candidate at least twice, several sources told Recode. Most recently, the company had made an offer to VMware CFO Zane Rowe but Rowe declined the offer, Recode confirmed. The Wall Street Journal first reported the talks. The reasons Rowe declined are not clear.

That struggle is not a new one, however. Both board members and top staffers have called former CEO Travis Kalanick’s inability, often described as outright hesitance, to replace Callinicos into question, sources have told Recode. Former Uber board member and Benchmark partner Bill Gurley, for instance, has been the most vocal about the need for companies to go public.

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Comments

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    RainbowRash
    99 Rider
     8 months ago

    Why is everyone keep talking about how the IPO is so iminent. Is that really true.

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    Bigfrank
    333 Driver Driver Rider
     8 months ago

    They are not in debt , it is a ploy on paying taxes. The CFO is a puppet for the people who really pulls the strings

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    jellyf1shy
    21
     8 months ago

    No wonder they are like billions of dollars in debt...

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    jonny
    15
     8 months ago

    It's shocking they went so long without one. I'm sure it would have done them good.

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    eForceX77
    108
     8 months ago

    Why would they need a CFO?  They have infinite amount of money.

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      CaptainOlimar
      185
       8 months ago

      Yeah, there's a lot of truth to that.  For real.

      Well, and people probably didn't care for tha position to be open.  Still private.  NOthing to report ot hte market, and they didn't need profits.