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Uber Said to Consider Bank of America's Finucane as Possible CEO

Image: Uber Said to Consider Bank of America's Finucane as Possible CEO
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By    |   Friday, 21 Jul 2017 08:47 AM

Bank of America Vice Chairman Anne Finucane reportedly has been contacted by multiple people close to Uber's board of directors regarding the company's vacant CEO position.

Uber needs a new leader after former CEO and company founder Travis Kalanick resigned last month under pressure from Uber's board and investors. A series of missteps, from allegations of stealing technology to a profanity-laced outburst that was caught on film by an Uber driver, led to Kalanick's resignation.

Uber seeks a strong manager who can repair a broken image, juggle multiple lawsuits and government investigations, develop and nurture a new corporate culture and lead a successful IPO.

Axios reported that Finucane is "said to be intrigued by the opportunity," but that no official talks with either the company or its executive search firm have been held.

The story lists three reasons why Finucane makes sense for Uber: her experience with crisis management, the company's preference for hiring a female CEO "given its well-publicized issues with sexual harassment and gender discrimination," and Finucane's longtime Wall Street experience being important for the coming IPO plans, CNBC explained.

Finucane “has been a top lieutenant for CEO Brian Moynihan, who took the helm in 2010. Like Moynihan, she joined Bank of America in the 2004 FleetBoston Financial Corp. acquisition. During the financial crisis, she served as Bank of America’s top strategy and marketing executive, tasked with repairing the bank’s reputation,” the Charlotte Observer reported.

Meanwhile, some experts believe Uber will look for an outsider with turnaround experience. Others point out that insiders may best know what is needed to fix Uber and not everyone at the company was tainted by Kalanick's behavior. They also think the board will strongly consider a female candidate, given recent criticism of Uber's lack of diversity.

At least two prominent female executives have already taken their names out of the running: Facebook's Chief Operating Officer Sheryl Sandberg and Arianna Huffington, a current member of Uber's board, the Associated Press reported.

Sandberg has no plans to leave her current job, a person close to her told The Associated Press. The person spoke on condition of anonymity because Sandberg has not publicly weighed in yet. Huffington "has no interest in the CEO role," according to Monica Lee, a spokeswoman for Huffington's current company, Thrive Global.

(Newsmax wires services contributed to this report).

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Bank of America Vice Chairman Anne Finucane reportedly has been contacted by multiple people close to Uber's board of directors regarding the company's vacant CEO position.
uber, bank, america, ceo, finucane
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2017-47-21
Friday, 21 Jul 2017 08:47 AM
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