The Biggest rideshare company in the world, Uber, announced on Wednesday that Prashantha Mahendra Rajah will be replacing Nelson Chai as the CFO of Uber. Prashantha Mahendra Rajah will step into his role of CFO on November 13, 2023.
“I’m confident he’ll be able to help us deliver even more innovation and efficiency as we continue this next phase of profitable growth,” Uber’s CEO Dara Khosrowshahi said, citing the announcement.
Prashantha Mahendra Rajah is the former CFO of semiconductor manufacturer Analog Devices and has been appointed as the CFO of Uber while the company is struggling with sluggish growth. Two months before the announcement, The current CFO of Uber, Nelson Chai, announced that he would be leaving the company soon, and since then Uber has been looking for a replacement for Nelson Chai.
At his previous company, Prashantha oversaw the financial strategy of the chipmaker. He also oversaw acquisitions for the chipmaker, the recent one being their rival Maxim Integrated Products, which Analog Devices bought for Around $21 billion.
Uber has had sluggish growth in the last few years. During the pandemic, many different rideshare platforms made their entry into the market and reduced Uber’s market share. Now only time will tell whether this decision to replace the CFO will be a beneficial one for Uber or not.