Uber CFO Nelson Chai plans to step down – Bloomberg News
6:41 pm Monday, July 10th, 2023
(Reuters) -Uber Technologies Chief Financial Officer Nelson Chai is planning to leave the ride-hailing company, Bloomberg News reported on Monday, citing people familiar with the matter.
Chai informed Uber CEO Dara Khosrowshahi of his intentions to move on, though a decision on the timing of his departure hasn’t been made, according to the report.
Uber did not immediately respond to a Reuters request for comment.
Uber’s shares, which closed marginally lower on Monday, slid about 1% in post-market trading.
Chai was brought in at Uber as finance chief in 2018 and he shepherded the company through its IPO a year later.
He has overseen multibillion-dollar deals – including the $2.65 billion acquisition of Postmates in 2020 and the $2.25 billion buyout of logistics operator Transplace the following year – as well as divestiture of assets in some geographies.
Before Uber, Chai had served in senior roles at the New York Stock Exchange, Merrill Lynch and CIT Group.
Uber is cutting costs even as it rides an upswing in its business as commuters return after COVID restrictions eased. The company said in May it was on track to post operating income profits this year.
(Reporting by Yuvraj Malik in Bengaluru; Editing by Shounak Dasgupta and Shailesh Kuber)
