Sprint’s Marcelo Claure, who was as soon as on the brief record to be CEO of Uber, will be becoming a member of its board within the subsequent few weeks, a number of sources confirmed.
The globe-trotting telecom CEO, whose identify has been beforehand floated for the seat, will take one among two director slots that Japanese funding big SoftBank is getting, as a part of a successful tender offer by SoftBank that is set to be accomplished on the finish of this month.
The different will go to Rajeev Misra, who is head of SoftBank’s Vision Fund that led the multi-billion greenback deal to purchase an enormous stake within the automotive-hailing firm.
Sprint is owned by SoftBank, and Claure and Misra are additionally on that board. Claure was additionally one of many candidates that some on the Uber board had put excessive up on its CEO record.
The pair will join the 11 present Uber directors, who embrace Uber CEO Dara Khosrowshahi and ousted CEO and co-founder Travis Kalanick, in addition to giant buyers and a number of other unbiased ones.
And whereas a baker’s dozen may be quite a bit for what is nonetheless a non-public firm, one of many outcomes of the board’s longtime infighting is that it is nonetheless on the hunt for 3 extra unbiased directors in addition to an unbiased chairman.
Yes, 17 individuals — or almost two baseball groups. If that sounds probably unwieldy and probably chaotic for Uber’s governance, you’d be proper! (And whereas maybe not so good for Uber, it’s an additional-leaky present that retains on giving for all of the media masking the corporate as a result of, properly, 17 directors to put on down — um, ask for remark!)
Uber is taking a look at a variety of board candidates, stated sources, with the concentrate on the chairman slot, and Khosrowshahi will be a key a part of that choice course of. That’s why his former boss, IAC and Expedia chairman Barry Diller, is one identify that has been most rumored for the job and nonetheless is, regardless of telling Recode last year that he did not want it.
“No,” Diller stated when requested at a tech convention in October if he would think about taking the chairmanship at Uber. “I have enough work — to say the least.”
It’s no shock that the endure-no-fools Diller wouldn’t be keen on taking over such an enormous and doubtlessly complicated position — which, to my thoughts, may be akin to cat wrangling. (And whereas Diller can most definitely pores and skin a cat, nicely, who needs to do this?)
While the mega-board is undoubtedly down the dysfunctional freeway that Uber has lengthy been driving on, many there hope it is maybe the final bump for the lengthy-troubled firm that by no means met a wall it didn’t crash into. Uber nonetheless has a number of main points to deal with, together with a number of main authorities investigations, regulatory messes and lawsuits.
Oh yeah, Lyft recently got $1 billion from CapitalG, Google mum or dad firm Alphabet’s progress fairness fund. Google Ventures is an investor in Uber too.
To assist clear up the mess — I simply think about he should open a drawer day by day and discover yet one more lifeless physique — Khosrowshahi has made a number of key substantive hires, similar to former PepsiCo exec Tony West for its general counsel and former Orbitz CEO Barney Hanford as its COO. He has additionally been aiming to rent a CFO — Uber has been with out one for some time — and lots of different prime jobs. Many internally hope he provides a number of extra ladies to the senior administration workforce.
No feedback throughout from Uber, SoftBank — and all of the cats.