Uber CFO Steps Down

Uber Chief Financial Officer Nelson Chai is planning to leave the ride-hailing company, according to people familiar with the matter, marking the most significant executive departure since the company went public in 2019.

Chai informed Chief Executive Officer Dara Khosrowshahi of his intentions to move on, though a decision on timing hasn’t been made, the people said, asking not to be named discussing non-public information.

“Over the past five years, Nelson has been essential to putting Uber on secure financial footing, steering the company from billions of dollars in losses,” to improved earnings, strong free cash flow and heading toward an operating profit, an Uber spokesman said in a statement. “We are not going to comment on any executive’s potential career decisions during a quiet period.”

Source: Wall Street Journal