Uber names a new CFO while its autonomous vehicle initiatives gain momentum

Uber Appoints New Chief Financial Officer

Uber has announced that Balaji Krishnamurthy, who has served as the company’s Vice President of Strategic Finance and Investor Relations, will step into the role of Chief Financial Officer. He will succeed Prashanth Mahendra-Rajah, the outgoing finance head.

Krishnamurthy brings over six years of experience at Uber, primarily within the investor relations team. He is known for sharing updates on Uber’s autonomous vehicle initiatives and also holds a board position at Waabi, a company specializing in autonomous vehicle technology. His promotion may indicate Uber’s intention to further invest in and expand its driverless vehicle operations.

During Uber’s fourth quarter earnings call, Krishnamurthy outlined plans to allocate resources toward autonomous vehicle software partners, collaborate with AV manufacturers through equity investments or offtake agreements, and bolster support for AV infrastructure collaborators.

He also emphasized in a statement on the company’s Q4 performance that Uber’s robust and growing free cash flow will be strategically invested in various opportunities, including positioning the company for leadership in an autonomous vehicle future.

Ambitious Goals for Autonomous Vehicles

Uber CEO Dara Khosrowshahi expressed confidence during the call that autonomous vehicles could unlock a multi-trillion dollar market for the company, noting that self-driving technology significantly enhances Uber’s platform capabilities.

Khosrowshahi projected that by the end of 2026, Uber aims to offer autonomous rides in up to 15 cities worldwide, with a balanced presence in both the U.S. and international markets. By 2029, the company aspires to become the world’s leading provider of autonomous vehicle trips.

Financial Highlights

Uber reported a 20% year-over-year increase in revenue for the fourth quarter, reaching $14.37 billion. This growth was largely fueled by heightened demand for its food delivery services.

Leadership Transition

After three years with Uber, Prashanth Mahendra-Rajah will be departing from the company.

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