Uber appoints CFO to oversee 2019 IPO

Uber has announced its the appointment of its first CFO since 2015, as it looks to navigate move toward becoming a public company


Following Uber's reported adjusted EBITDA loss of $404m in the second quarter financials, the ridesharing company has named former Warranty Group CFO Nelson J. Chai as its new CFO.

According to Uber CEO Dara Khosrowshahi, the recruitment of Chai as CFO forms part of a strategic move to reshape the company, restore losses and remain on track for a 2019 IPO.

"I’m incredibly excited to bring on someone as experienced and thoughtful as Nelson," Khosrowshahi remarked. "He will be a great partner for me and the entire management team as we move toward becoming a public company."

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Uber's CFO position had been vacant since 2015, during the leadership tenure of Travis Kalanick, who had joined Uber from Google. Nelson Chai said he hoped to strengthen company growth as it moves towards an IPO.

Chai commented: "Uber is one of the world’s most iconic and exciting technology companies, and I’m honored to join as CFO. I look forward to working closely with Dara and team as we build on the company’s strong growth and forward momentum."

Uber, which was launch in 2009, announced it had completed 10 billion trips, and currently records 15 million completed trips per day.


Written by Innovation Enterprise Digital Content Editor, Simorin Pinto

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