Uber Gains a 'Scared' CEO

Uber's board has indeed made its "truce choice" for a new CEO. Per Recode, Dara Khosrowshahi, who's helmed Expedia since 2005, has officially been designated the new head of Uber after former CEO Travis Kalanick's drama-filled June resignation. Khosrowshahi penned a memo to his Expedia staff noting that his decision to defect was "one of the toughest" he's ever made.

He added, "I have to tell you I am scared," mostly because he's been part of the Expedia fabric for so long that "I've forgotten what life is like outside this place." Kalanick, meanwhile, has offered his congrats. "I couldn't be happier to pass the torch to such an inspiring leader," he said in a statement. (More Dara Khosrowshahi stories.)