Gautam Gupta, Uber’s head of finance, is the latest exec to leave the company. Uber said he’s leaving to be a chief operating officer at a smaller startup.
Gupta had been at Uber for four years and the ride-hailing company said it’s already launched a search for a new chief financial officer. It said it’s specifically looking for someone with experience running a public company or taking a company public.
Uber isn’t yet public, but this indicates it may be looking to take the plunge in the near future.
Along with Gupta’s departure, Uber also said it’s seen revenue growth over the last quarter. First-quarter revenue was $3.4 billion, which is up 18 percent from the last quarter of 2016, but its losses were $708 million. This is better than its fourth quarter losses, however, which came in at $991 million. Uber also said its ride-hail bookings are up 9 percent. The Wall Street Journal was the first to report this.
Uber is a private company, so isn’t required to make its earnings public.
“These results demonstrate that our business remains healthy and resilient as we focus on improving our culture, management and relationship with drivers,” said an Uber spokeswoman. “The narrowing of our losses in the first quarter puts us on a good trajectory towards profitability.”
Gupta is the latest in a long line of executives to leave the company. Mired in scandals, the ride hailing company has lost nearly a dozen high-level execs over the past few months, including its, president of engineering and the head of its self-driving car program .
Gupta and Uber appear to be parting ways amicably.
“Gautam is a world-class financial talent,” Uber CEO Travis Kalanick said in an emailed statement. “Over the last four years, he has been indispensible in helping build Uber from an idea into the business it is today. We couldn’t have done it without him, and I will miss his energy, focus and infectious enthusiasm. All of us at Uber wish him well in this next challenge.”