Uber unveils new CEO - Dara Khosrowshahi lured from Expedia - to replace Travis Kalanick

Uber brings in "calming influence" to help steady the sinking ship

Jumped-up cab firm Uber, which was once valued at more than $50bn, has announced that Dara Khosrowshahi as its new CEO to replace ousted 'bro' CEO Travis Kalanick.

Khosrowshahi arrives at the trouble company at a time when a number of key staff posts at the very top remain vacant following a string of controversies at the heavily funded company.

In a letter to Expedia staff seen by Reuters, Khosrowshahi, who had been at the helm of the online travel giant for 12 years said: "I have to tell you that I'm scared… I've been here at Expedia for so long that I've forgotten what life is outside of this place."

He is described as being a "calming influence" at Expedia, which is exactly what Uber would appear to need right now as it faces up to litigation from Google parent Alphabet over its alleged theft of self-driving car intelligence, and continuing accusations of spying on customers, not to mention sexism and poor conditions for drivers.

It also remains heavily loss-making, losing $2.8bn on bookings of $20bn and revenues of $6.5bn (after the drivers have taken their cut).

And if that weren't enough, Uber has also suggested that a US Department of Justice bribery trial may be in the offing too.

Meanwhile Kalanick, despite expressing his support for the new regime, is embattled in his own legal fight, related to the fraud allegations.

Kalanick is off to Delaware to contest with one of Uber's major shareholders, Benchmark Capital, who believe that Kalanick is manipulating his position in an attempt to take back control of the company.

Kalanick is trying to get the case removed from the courts and into the more civilised surroundings of arbitration. Benchmark, meanwhile, is seeking that Kalanick is subject to a ‘status quo' order which would stop him dicking about in Uber's affairs while Kos rights the listing ship.