Published: Mon, August 28, 2017
Money | By Oscar Reynolds

Former GE CEO Jeff Immelt says he won't run Uber

Former GE CEO Jeff Immelt says he won't run Uber

The startup, last valued at $68 billion, is now being run by an "executive leadership team" that includes some of Uber's most senior employees, such as chief product officer Jeff Holden and regional general manager for the USA and Canada Rachel Holt. Immelt was among the finalists for the job.

Uber Technologies Inc.is moving closer to picking a new chief executive officer, who will fill the seat left vacant for more than two months since the abrupt ouster of co-founder Travis Kalanick.

Hewlett Packard Enterprise CEO Meg Whitman was also rumored to be a candidate. But Immelt, 61, pulled himself out of consideration Sunday in a Twitter post, following a similar tack to Whitman.

In a tweet, Mr Immelt said he had "decided not to pursue a leadership position at Uber".

Uber's board of directors has been searching for a new CEO since June, when investors forced out co-founder Travis Kalanick following months of criticism over his leadership abilities.

Uber was not immediately available for comment.

The ride-hailing giant, valued at about $70 billion, faces a lawsuit over self-driving auto technology from Alphabet Inc.'s Waymo and a US probe into the use of software to deceive law enforcement officials. The company has confronted multiple allegations of sexual harassment, is fighting a lawsuit against self-driving carmaker Waymo, and is facing a federal probe over its use of a software tool to evade law enforcement.

Uber's next leader will be tasked with helping the company surmount a year of setbacks, remaking its tarnished image and creating a profitable business out of what has been a loss-making endeavor. Kalanick's potential role, if any, at Uber under a new CEO has remained a large question during the search process.

Uber is weighing at least one other person, whose name couldn't be learned.

Immelt stepped down as CEO at GE this year after 16 years running the industrial conglomerate. Immelt didn't say what prompted the withdrawal, but it's an unusually open declaration given that Uber hadn't publicly discussed that he was in the running.

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