Published: Sun, October 01, 2017
Industry | By Dora Warner

Uber's Kalanick says he appoints former Xerox, Merrill bosses to board

Uber's Kalanick says he appoints former Xerox, Merrill bosses to board

Uber cofounder Travis Kalanick appointed Xerox chairwoman Ursula Burns and former Merrill Lynch CEO John Thain to the company's board of directors on Friday, a surprise move that's nearly certain to re-ignite the bitter internal fighting that has destabilized the ride-hailing giant for months.

Kalanick said in a statement he had appointed former Xerox Chief Executive Ursula Burns and former Merrill Lynch Chief Executive John Thain as directors in the face of proposals to dramatically restructure the board. "It is therefore essential that the full Board be in place for proper deliberation to occur", Kalanick said in a statement.

Uber said moves such as these appointments prove a new governance structure is necessary. CEO Dara Khosrowshahi as its new chief.

When Uber founder and CEO Travis Kalanick stepped down in June, he retained his ownership stake in the company and seat on its board of directors.

President Trump: I think NFL owners are afraid of their players
If you don't like what those kneeling football players are doing, then perhaps it's you who is not standing with the troops. We, as former fans, also have the right to protest against them. "And I think it's disgraceful", POTUS scoffed.

According to a source familiar with the situation, who spoke on the condition of anonymity, Kalanick had not filled two of those board seats up until this point because he was "trying to respect" the legal process.

The company had reportedly faced a string of revolts from the shareholders, few of which demanded Kalanick's resignation. Also part of the changes would be altering the voting power of Kalanick's and Benchmark's "super-voting" stock, making it all "one share, one vote", and Khosrowshahi would be given nomination control of the three Class B board seats that are now filled by Ryan Graves, Arianna Huffington and Wan Ling Martello, with approval required by the full board.

Uber expressed concern at Kalanick's announcement.

"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", Uber said. Burns was already on Uber's shortlist of potential board candidates, and Thain was a mostly respected leader in his time at Merrill Lynch.

Can they still catch the Boston Red Sox?
Houston is one game behind Cleveland for the AL's best record, and there's little mystery about what's made the Astros so good. Tanaka delivered the best start of his four-year tenure with the Yankees , who stayed alive in the American League East race.

Mr Kalanick remains supportive of Mr Khosrowshahi, the person said.

A DE judge later that month stayed the Benchmark lawsuit and sent it to arbitration, pushing the dispute out of public view and delivering Kalanick a victory.

The move is being seen as indicative of the continuing power struggle which saw Mr Kalanick step down as the firm's CEO in June.

The move is a defiant rebuke of one of Uber's largest investors, Benchmark Capital.

Long way to go to become India's greatest captain:Kohli
Despite Hingnikar's promise, don't be surprised if the pitch that wore a placid look ends up a slower and low-bounce pitch. Travis Head never got going in his knock of 29 off 38 balls after being elevated ahead of Smith to bat at No. 3.

But those rules are at the root of a lawsuit that's now in arbitration, and at the center of an ongoing controversy. The New York Times also quoted Kalanick's lawyer as telling the court Kalanick had the power to fill the seats under the pre-arbitration "status quo".

Like this: