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by prostoalex
3385 days ago
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Because the boards act in structural manner, rather than by spur of emotion. The new CEO will most likely get some key performance objectives related to current problems as well as revenue (or margin) growth. If there's a reason to believe TK can commit and be evaluated against the same indicators, the incumbent CEO is a better choice since no time is wasted on onboarding and getting familiar with the business. If he refuses to commit or commits and is then unable to execute, now that stipulates a much more productive board discussion on how the current CEO should step away to let a "more mature" or "more tenured" CEO that can execute against those objectives. So if any resignation is imminent, expect it in 3-6 months, not now. |
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To me, that the perception of Uber as a toxic company has not abated indicates that, even if the board and investors have tried to ameliorate the situation, they have little control over Kalanick. I'd be fairly upset to see my return hang in the balance over something like that, but I suppose your return is always hanging in the balance over something.
If I were an investor in Uber I would be more concerned about the Waymo/Otto business. If some injunction comes down with that, a huge amount of the value of Uber could evaporate. If their self-driving business stays on course and they oust Kalanick, I'm reasonably certain that they can deliver on a large portion of their valuation.