Uber hires CFO after lengthy search, paving way for IPO
(Reuters) - Uber Technologies Inc has hired a chief financial officer, the ride-services company said on Tuesday, filling a long-standing vacancy and clearing the way for a much-anticipated initial public offering next year. Uber said it had hired Nelson Chai, a financial services veteran with deep connections to the banks and deal-makers Uber must impress ahead of what is expected to be a large, complicated IPO. Operating without such a senior manager is rare for a company the size of Uber, whose net revenue, after payment for drivers, promotions and refunds, was $2.8 billion in the second quarter this year. Chai has had stints at Merrill Lynch, where he worked as CFO through the financial crisis, and Bank of America after it bought Merrill Lynch in 2008.
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