New Uber CEO Announces IPO Within 3 Years

New Uber CEO Dara Khosrowshahi informed employees on Wednesday that the ride-hailing company will change its corporate culture and will launch an initial public offering (IPO) within 18 to 36 months.

Khosrowshahi, who led the global online travel company Expedia for 12 years, shared highlights and remarks during his introduction to Uber employees at the company’s headquarters in San Francisco.

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His plans include revitalizing the company’s corporate culture and increasing market share, as well as the possibility of conducting an initial public offering (IPO) within 18 to 36 months, Reuters reported, citing employees who attended the meeting.

– “This company needs to change,” Khosrowshahi told employees, adding that the business model that has brought them success so far is not the one that will elevate them to the next level.

The appointment of Khosrowshahi, who described himself as a fighter, comes at a time when Uber is trying to recover from a series of crises that culminated in the departure of CEO Travis Kalanick in June.

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During his first meeting with Uber employees, Khosrowshahi emphasized that he plans to hire new talent, particularly a chief financial officer, as well as someone to assist him in leading the board of directors, Uber announced on Twitter. Kalanick, who attended the employee meeting on Wednesday, welcomed his successor in a statement.

– “Voting for the next CEO of Uber was a significant moment for me, and I couldn’t be happier to pass the baton to such an inspiring leader,” Kalanick said.