Uber Technologies's head of finance announced an exit from the privately held ride-hailing company, after first-quarter loss narrowed substantially from the prior quarter, putting it on a path toward profitability. Uber said its first-quarter revenue rose 18 percent to $3.4 billion from the fourth quarter.
Head of finance Gautam Gupta is leaving in July to join another startup in San Francisco, making Gupta the latest high-profile executive to leave Uber.
Uber, which has been in news from the past several months, due to several high-level executive departures, owing to Uber's disp it grapples with a series of controversies, has been looking for a chief operating officer to help change its now-notorious “bro” culture.
Gupta’s exit sets the stage for a second major executive search, now for a chief financial officer who has public company experience. The company on Tuesday fired the technology whiz it had hired to lead its self-driving unit, Anthony Levandowski, after he failed to comply with a court order to hand over documents at the center of a legal dispute between Uber and Alphabet Inc’s Waymo unit.
Uber on Wednesday said its net loss in the first quarter, excluding employee stock compensation and other items, narrowed to $708 million, from $991 million in the fourth quarter.