Disclaimer: We may earn a commission if you make any purchase by clicking our links. Please see our detailed guide here.

Follow us on:

Google News

Uber to hire Nelson Chai as the Chief Financial Officer ahead of planned IPO

Moupiya Dutta
Moupiya Dutta
She finds it interesting to learn and analyze society. she keeps herself updated, emphasizing technology, social media, and science. She loves to pen down her thoughts, interested in music, art, and exploration around the globe.

Join the Opinion Leaders Network

Join the Techgenyz Opinion Leaders Network today and become part of a vibrant community of change-makers. Together, we can create a brighter future by shaping opinions, driving conversations, and transforming ideas into reality.

On Tuesday Uber announced that Nelson J. Chai will fill a role that has been vacant since 2015. He has been hired as Chief Financial Officer ahead of a planned IPO. Chai comes to Uber from the Warranty Group, a Chicago-based insurance and warranty provider where he served as chief executive. His resume also includes stints as president at CIT Group and CFO for Merrill Lynch & Co.

Uber has been trying hard to fix its finances as it prepares to go public next year. Most recently the company released numbers to put Uber’s valuation at around $60 billion.

To bring on someone as experienced and thoughtful as Nelson.” He hopes that “He will be a great partner for me and the entire management team as we move towards becoming a public company.- Dara Khosrowshahi, CEO, Uber

The position for the CFO has been vacant since 2015 after the departure of Brent Callinicos. Replacement for a new CFO was also thought of but little interest was shown until the new CEO Dara Khosrowshahi stepped up for the search.

The lack of an important senior manager is rare for a company of this size whose net revenue was $2.8 billion in the second quarter this year and this had worried the investors too.

After the announcement (from Uber) goes out I expect to become a lot more popular with people from my past. – Nelson Chai

According to reports Chai was chosen after making an offer to VMware CFO Zane Rowe but Rowe had to drop it as he was pressurized from his board.

Till now Uber has had a number of vacancies to fill since Kalanick’s departure. Things in the company have not gone very smoothly and Chai hopes to investigate things into place. “The bigger part is going to be talking through some of the strategic choices the company has made to invest in” – Chai

Currently, as reports suggest he is looking for an apartment in San Francisco so that he can start his job next month.


Partner With Us

Digital advertising offers a way for your business to reach out and make much-needed connections with your audience in a meaningful way. Advertising on Techgenyz will help you build brand awareness, increase website traffic, generate qualified leads, and grow your business.

Power Your Business

Solutions you need to super charge your business and drive growth

More from this topic