Connect with us

Latest News

Uber Has A New CEO Dara Khosrowshahi

Published

on

Uber New CEO,Uber CEO Dara Khosrowshahi,Dara Khosrowshahi as Uber New CEO,Uber new CEO Salary,Uber Latest News,Startup Stories,Uber News Today,2017 Business Latest News

Uber, US based cab hailing startup, has elected a new chief executive officer to lead the company. Dara Khosrowshahi, who has been the CEO of online travel business Expedia for the past 12 years has officially been offered the post as the new CEO of Uber.

Dara Khosrowshahi emigrated to the US in 1978 from Iran following the Iranian Revolution and took over the reigns of Expedia in 2005. Expedia, under his leadership, grew to become a $23 billion giant with a presence all across the world. The online travel business is known for their work life balance and diversity. According to company data, 51% of their US employees are female and 33% leadership roles are taken up by women. Khosrowshahi has agreed that the numbers, although compares well with their peers, are still not high enough.

Former CEO and cofounder of the company Travis Kalanick was asked to step down following the various scandals that surrounded the company. One of the allegations the company faced was discrimination against women at the workspace. Although Dara Khosrowshashi will be a step up from the former CEO, the bar set for diversity and inclusion is still very low considering the board was unable to hire a woman for the lead role.

In a press conference last year Khosrowshahi said they need to attract, hire, engage and promote talent of all kinds all around the world. “We believe that by enriching the diversity of our work force across all dimensions, including gender, we achieve the most enriched outcomes,” he added. Before Khosrowshashi, HP CEO Meg Whitman along with former GE CEO Jeffery Immelt were considered for the job. After Kalanick’s resignation, many hoped that the next CEO would be a woman, which would be a symbolic choice for a company that is grappling with its “bro” culture. Facebook’s Chief Operating Officer Sheryl Sandberg was also considered for the position as she takes a firm social standing on diversity and has the right leadership experience.

In recent times many women have come forward speaking out against discrimination and harassment in the tech industry with multiple leaders stepping down from their posts. India, which is the third largest startup ecosystem in the world, on the other hand, has been seeing an increase in women lead companies in the startup world such as Richa kar led Zivame, Suchi Mukherjee led Limeroad and Radhika Aggarwal led ShopClues. Anisha Singh who is the founder of MyDala.com will also be seen mentoring aspiring entrepreneurs on an upcoming reality show on MTV called Dropout. Indira Nooyi, born in Madras, is currently ranked as the 13th most powerful women in the world and heads the world’s second largest food and beverage company, Pepsi Co. Kiran Mazumdar Shaw is the chairperson and managing director of Biocon Limited, a Bengaluru based biotechnology company and is an independent director of IT giant Infosys.

Khosrowshahi, the soon to be former CEO of Expedia, which does not have a gender pay gap and women in its workforce earn $1 for every $1 paid to men in equivalent roles, will be tasked with turning around Uber’s culture, which has been called hostile to women. More than 20 employees were terminated from Uber as a result of an internal investigation with sexual harassment, bullying and retaliation as reasons for many of the firings. The internal investigation also released a 13 page report with recommendations on how to improve the way Uber treats its employees and police reckless behavior within the company. Khosrowshahi’s job would be to follow the recommendations to avoid any more scandals.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

Quick Commerce Set to Boost HUL’s Revenue

Published

on

StartupStories

Unilever’s CEO, Fernando Fernandez, is optimistic about quick commerce’s growth in India, predicting it will significantly boost Hindustan Unilever Ltd’s (HUL) revenue. Currently, quick commerce accounts for about 2% of HUL’s revenue, but Fernandez expects this to rise to 10-15% within the next three to four years.

Why Quick Commerce?

India’s unique demographic, with affluent and economically active households living in close proximity, makes quick commerce a logical and profitable channel. The margin mix in quick commerce is also favorable for improving profitability12.

Market Trends

Quick commerce is rapidly expanding in India, with its contribution to ecommerce sales doubling annually. Major players like Blinkit, Swiggy Instamart, and Zepto are driving this growth, driven by consumer preference for convenience over discounts13.

Future Outlook

Fernandez’s strategy aligns with Unilever’s goal to transform its business and meet evolving consumer preferences. Leveraging quick commerce will be key to enhancing HUL’s revenue in India, a crucial market for Unilever

Continue Reading

Latest News

Social Media Platform X Faces Global Outage

Published

on

Social Media Platform X Faces Global Outage

Elon Musk’s social media platform X, formerly known as Twitter, experienced a significant global outage on Monday. The disruption began around 3:20 PM IST, with over 19,000 reports of issues globally, according to Downdetector.

Impact by Region

  • United States: Over 21,000 users reported issues, primarily with the app.
  • United Kingdom: More than 10,800 incidents were recorded.
  • India: Nearly 2,300 users faced difficulties, though some reports suggest around 1,000 complaints, mainly with the search bar.

Nature of the Outage

The outage affected both web and mobile app versions, preventing users from accessing timelines or posting content. The cause remains unclear, as X has not issued an official statement.

Resolution

Services resumed after about 30-40 minutes, but concerns about the platform’s reliability have increased due to its recent technical issues

Continue Reading

Latest News

Acevector Limited Announces New CEOs for Snapdeal and Stellaro Brands

Published

on

Acevector

Acevector Limited, the parent company of Snapdeal and Stellaro Brands, has announced significant leadership changes within its organization. Achint Setia has been appointed as the new CEO of Snapdeal, while Himanshu Chakrawarti will transition to the role of CEO of Stellaro Brands.

Himanshu Chakrawarti to Lead Stellaro Brands

Himanshu Chakrawarti has successfully led both Snapdeal and Stellaro Brands for the past three years. In his new role, he will focus exclusively on driving growth at Stellaro Brands, which houses various apparel brands, including Rangita. Chakrawarti brings over 30 years of experience in the retail industry, having held leadership positions at notable companies such as Trent, Arvind, and the Landmark Group. His extensive background in brand building and retail operations will be instrumental in scaling Stellaro’s growth.

Strategic Focus

Chakrawarti’s shift to Stellaro Brands allows him to leverage his experience to enhance the brand’s market presence and operational efficiency. His leadership is expected to drive innovative strategies that align with consumer trends and preferences.

Achint Setia to Head Snapdeal

Achint Setia takes over as CEO of Snapdeal, bringing a wealth of experience in e-commerce, media, telecom, and government services. He has a proven track record in business building, marketing, strategy, and technology. Prior to joining Snapdeal, Setia served as the Chief Revenue and Marketing Officer at Zalora Group in Singapore. He has also held senior leadership roles at Myntra, Viacom18, McKinsey & Co., and Microsoft.

Background and Expertise

Setia holds an MBA in Strategy & Finance from the Indian School of Business and completed the Stanford GSB LEAD program in Corporate Innovation. His diverse experience positions him well to lead Snapdeal through its next phase of growth as it navigates a competitive e-commerce landscape.

Focus on Growth and Innovation

These leadership changes are strategically aimed at driving growth and innovation across both Snapdeal and Stellaro Brands. With experienced leaders at the helm of each business, Acevector Limited is well-positioned for continued success in the dynamic Indian market.

Market Positioning

The transition comes at a critical time for Snapdeal as it seeks to strengthen its market position amid rising competition from other e-commerce platforms. Setia’s expertise in digital ecosystems is expected to enhance Snapdeal’s offerings and customer engagement strategies.

Recent Developments at Acevector Limited

Acevector Limited has been actively involved in restructuring its operations to optimize performance across its portfolio. The company has previously made headlines with initiatives such as:

  • The formalization of a group structure encompassing Snapdeal, Unicommerce, and Stellaro Brands.
  • Strategic investments aimed at enhancing technology capabilities and expanding service offerings.

Conclusion

The appointment of Achint Setia as CEO of Snapdeal and Himanshu Chakrawarti as CEO of Stellaro Brands marks a pivotal moment for Acevector Limited. These strategic leadership changes are designed to leverage their extensive industry experience to foster innovation and drive growth across both brands. As they embark on their new roles, the focus will be on enhancing operational efficiencies and adapting to evolving market demands within India’s competitive e-commerce sector.

Continue Reading
Advertisement

Recent Posts

Advertisement