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Uber appoints new CFO as its AV plans accelerate
Uber has appointed Balaji Krishnamurthy as its new CFO, succeeding Prashanth Mahendra-Rajah. This move signals an acceleration in Uber's autonomous vehicle (AV) initiatives, with plans to invest capital in AV software and expand driverless services to 15 cities by 2026. Uber's CEO emphasized the potential of AVs to unlock significant revenue opportunities.
Key points
- Balaji Krishnamurthy promoted to CFO, previously VP of strategic finance.
- Prashanth Mahendra-Rajah departs after three years.
- Krishnamurthy's background includes a focus on investor relations and autonomous ride-hailing.
- Uber plans to invest in AV software developers and infrastructure partnerships.
- CEO Dara Khosrowshahi projects AV trips to be launched in 15 cities by end of 2026.
- Fourth-quarter revenue increased by 20%, reaching $14.37 billion, with strong food delivery demand.
Why it matters
- The trend towards autonomous vehicles (AVs) is rising in 2025, with several companies investing heavily in AV technology.
- Uber's strategic shift toward AVs mirrors broader industry movements toward automation and smart transportation.
- Past reports indicate that companies focusing on AV technology have seen respective market valuations increase significantly.
Uber's appointment of a CFO with a focus on AVs underscores its commitment to revolutionizing transportation, aiming to emerge as a leader in driverless technologies and unlock major revenue streams in the coming years.