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Uber Technologies, Inc. (NYSE: NYSE:) announced on Tuesday that Prashanth Mahendra-Rajah will assume the role of Chief Financial Officer on November 13, 2023. The current CFO of Analog Devices (NASDAQ:), Mr. Mahendra-Rajah brings a wealth of experience to his new position at Uber, having led financial strategies and overseen global finance organizations in his previous roles.
In addition to his tenure at ADI, Mr. Mahendra-Rajah has served as Chief Financial Officer at WABCO Holdings (NYSE:) Inc., a global supplier of commercial vehicle technologies. His extensive resume also includes financial leadership roles at Applied Materials (NASDAQ:), Visa (NYSE:), and United Technologies (NYSE:).
Dara Khosrowshahi, CEO of Uber, expressed confidence in their new CFO’s capabilities. “Prashanth is an incredibly skilled and dynamic finance executive, with decades of experience across a variety of complex industries,” Khosrowshahi said. He further added that he is confident in Mr. Mahendra-Rajah’s ability to deliver innovation and efficiency as Uber continues its next phase of profitable growth.
Mahendra-Rajah shared his enthusiasm about joining the ride-hailing giant. “I’m delighted to join Uber, one of the world’s most iconic technology companies, at such a promising moment in its journey,” said Mr. Mahendra-Rajah.
Uber’s mission is to create opportunity through movement. Since its inception in 2010, the company has facilitated over 42 billion trips and continues to develop products to bring people closer to their desired destinations. By changing how people, food, and things move through cities, Uber has opened up the world to new possibilities.
According to InvestingPro, Uber’s net income is expected to grow this year, and analysts predict the company will be profitable this year. This is an encouraging sign of the company’s potential for profitable growth under the new CFO’s leadership. For more detailed insights, explore the additional eight InvestingPro Tips for Uber here.
InvestingPro’s real-time metrics indicate that Uber has a market cap of 92.27B USD and a revenue of 35.00B USD as of Q2 2023. It’s also noteworthy that the company has seen a large price uptick over the last six months, with a 501.16% 6-month price total return, reflecting its promising performance in the market.
Uber’s stock currently trades at 43,16 EUR on the Lang & Schwarz stock exchange. The company’s fair value, according to InvestingPro, stands at 45.18 USD, suggesting potential for growth in the stock’s value.
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