Khosrowshahi will now oversee the company’s core business, after spending much of the past two years traveling the world, meeting with government leaders and pitching prospective investors ahead of what became the biggest initial public offering on a U.S. exchange in five years. He also promoted two longtime Uber executives to help fill the void.
Uber has under-performed in its first month as a public company, as investors question its ability to someday turn a profit. In its first quarterly financial report last week, Uber posted a $1.01 billion loss. The stock closed Friday below the IPO price of $45 a share. Shares fell as much as 2.29 percent in extended trading after Bloomberg reported the executive departures.
The two executives who will take over some responsibilities from the outgoing chiefs helped Uber navigate through the period of turmoil. Andrew Macdonald, who started at Uber in 2012 as a general manager in Toronto, will lead operations. Jill Hazelbaker, who runs policy and communications, will add the marketing department to her portfolio. Both were hired by Uber co-founder Travis Kalanick and became trusted allies of Khosrowshahi.