Uber CEO Says ‘No Plans To Go Anywhere Soon’ As Ride-Hailing Giant Names First COO In 6 Years

Uber Inc.'s (UBER) stock will likely draw increased attention on Tuesday after it named insider Andrew Macdonald as its President and Chief Operating Officer.

In a regulatory filing on Monday, Uber also announced the departure of Pierre-Dimitri Gore-Coty, who has led the company’s delivery segment for 13 years, in a shakeup at the senior executive level.

Macdonald, referred to as “Mac”, will be responsible for the company’s global mobility, delivery, autonomous businesses, and key cross-platform functions like membership, customer support, safety, and others.

“This is a natural next step in our evolution as a company, as we drive growth by increasing engagement across our entire platform. There is no one better suited to seize this opportunity than Mac,” CEO Dara Khosrowshahi said.

Macdonald would be the company's first COO since 2019, when Barney Harford departed shortly after its listing on Nasdaq.

Bloomberg reported, citing a memo, that Khosrowshahi also assured the company’s employees that he doesn’t intend to leave the company following Macdonald’s elevation.

“I recognize the change might prompt some questions about my future, so I’ll be clear: I have no plans to go anywhere anytime soon — other than fly around the globe trying to keep up with our ever-growing footprint,” he added, as per the report.

The executive changes come as Uber is fiercely competing with rivals such as Alphabet’s Waymo in the robotaxi segment.

The company is expected to face further competition from Elon Musk’s Tesla, which reportedly plans to launch its autonomous taxi services in Austin on June 12.

Retail sentiment on Stocktwits was in the ‘bearish’ territory while retail chatter was ‘normal.’
 

Uber stock has gained more than 34% this year.

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