Uber Technologies’ Chief Financial Officer, Nelson Chai, is reportedly planning to depart from the ride-hailing company, as per sources familiar with the matter cited by Bloomberg News.
According to the report, Chai has informed Uber CEO, Dara Khosrowshahi of his intention to move on, although the timing of his departure has not been finalized.
Meanwhile, Uber has not responded to a request for comment from Reuters regarding Chai’s potential departure.
Following the news, Uber’s shares experienced a slight decline on Monday and further slid approximately 1 percent in post-market trading.
Chai joined Uber as CFO in 2018 and played a significant role in guiding the company through its initial public offering in the following year.
During his tenure, Chai oversaw substantial deals, such as the $2.65 billion acquisition of Postmates in 2020 and the $2.25 billion buyout of logistics operator Transplace in the subsequent year. He also facilitated divestitures of assets in certain regions.
Prior to his time at Uber, Chai held senior positions at the New York Stock Exchange, Merrill Lynch, and CIT Group.
While Uber experiences a resurgence in its business as commuters gradually return amid eased COVID-19 restrictions, the company is focused on cost-cutting measures.
In May, Uber announced plans to achieve operating income profits this year.
In recent developments, Uber revealed its decision to reduce its recruitment division by cutting 200 jobs, aiming to maintain a consistent headcount throughout the year and streamline costs.
These job reductions affect less than 1 percent of Uber’s global workforce of 32,700 employees.
Earlier this year, the company also laid off 150 employees in its freight services division.
The latest cuts account for 35 percent of Uber’s recruiting team, according to the Wall Street Journal.
