• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants
TechUber Technologies

Immelt Backs Out of Chaotic Uber CEO Search

By
David Z. Morris
David Z. Morris
Down Arrow Button Icon
By
David Z. Morris
David Z. Morris
Down Arrow Button Icon
August 27, 2017, 11:50 AM ET
Add Fortune on Google for similar content.

Uber made it easy to catch a ride, but the company sure can’t catch a break.

Outgoing GE CEO Jeff Immelt, considered a frontrunner to replace founder Travis Kalanick as CEO, announced on Twitter this morning that he will no longer seek the position.

I have decided not to pursue a leadership position at Uber. I have immense respect for the company & founders – Travis, Garrett and Ryan.

— Jeff Immelt (@JeffImmelt) August 27, 2017

Uber’s board of directors was expected to vote on a new CEO for the stumbling giant today, and Immelt was the favorite as recently as last night. But a report from Recode’s Kara Swisher also suggested that the board was courting a prospect who has already rebuffed them – Hewlett Packard Enterprise CEO Meg Whitman.

Whitman, according to Recode, has been the preferred choice of Benchmark Capital. The venture capital fund has in recent weeks been trying to wrest power from founder and former CEO Travis Kalanick. Kalanick retains his own board seat, and Benchmark claims he also sought to improperly stack the board with loyalists on his way out of the top job.

Swisher’s reporting seems to uphold Benchmark’s claims that Kalanick is undermining the CEO search process. Kalanick apparently preferred Immelt to succeed him, but others – specifically, Benchmark – saw Immelt as too accommodating to Kalanick, who reportedly has said he wants to retain influence and eventually return to the CEO role.

Get Data Sheet, Fortune’s technology newsletter.

That could have continued the culture and PR issues that have bedeviled Uber for the better part of a year now, potentially threatening an eventual IPO. To try and cut off Kalanick, Swisher says Benchmark and others have been aggressively courting Whitman, despite her past declarations that she wasn’t interested in the job. Enticements include revamping the makeup of the board itself, which one source close to Whitman said “needs a massive overhaul.”

But the big roadblock to Whitman accepting any offer has been Kalanick himself, whose hard-driving style both grew his brainchild into a colossus, and left it with core weaknesses. One source told Swisher that Whitman is unlikely to accept the CEO job with Kalanick still involved, and he’s unlikely to entirely cede power.

Immelt’s surprise announcement reshuffles the deck, though. It may mean Whitman will get what she wants, or it may indicate the board is going an entirely different direction – at least one still-unknown candidate is also in the running.

A better chance for Whitman, though, is good news for Uber investors. While Immelt would have brought stable leadership, Whitman has a much more solid track record in the tech sector and as an innovator. Her hiring would also send a clearer public message about the company’s response to the litany of sex scandals that have made up a sizable portion of its woes.

The board is expected to announce its decision to employees as soon as mid-week.

Update: This piece has been updated in light of Immelt’s announcement.

About the Author
By David Z. Morris
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

jon
Commentaryphilanthropy
Shell Foundation CEO: climate tech works. Getting it to a billion people who need it is the hard part
By Nick LichtenbergJune 26, 2026
1 minute ago
Mature businessman leading project meeting in office conference room
AICFO Daily
CFOs are bullish on their own companies—even as they turn bearish on the economy
By Sheryl EstradaJune 26, 2026
1 hour ago
Exclusive: Framework Ventures raises $400 million for fourth fund as firm expands beyond crypto
NewslettersTerm Sheet
Exclusive: Framework Ventures raises $400 million for fourth fund as firm expands beyond crypto
By Ben WeissJune 26, 2026
2 hours ago
MacBook Neo laptop computers during an Apple event in New York on Wednesday, March 4, 2026. (Photo: Adam Gray/Bloomberg/Getty Images)
NewslettersFortune Tech
Apple loses its iron grip on pricing power
By Andrew NuscaJune 26, 2026
2 hours ago
AI is overwhelming our senses—Edward Enninful has an answer for that 
EuropeLetter from London
AI is overwhelming our senses—Edward Enninful has an answer for that 
By Kamal AhmedJune 26, 2026
4 hours ago
kid
SuccessSocial Media
Kids want to be influencers when they grow up, because they ‘gets lots of money’ and ‘they want to be famous’
By Matthew Simoneau and The ConversationJune 26, 2026
5 hours ago

Most Popular

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
1 day ago
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
Success
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
By Orianna Rosa RoyleJune 24, 2026
2 days ago
Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants
Success
Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants
By Orianna Rosa RoyleJune 25, 2026
1 day ago
Current price of oil as of June 25, 2026
Personal Finance
Current price of oil as of June 25, 2026
By Joseph HostetlerJune 25, 2026
1 day ago
Current price of silver as of Thursday, June 25, 2026
Personal Finance
Current price of silver as of Thursday, June 25, 2026
By Joseph HostetlerJune 25, 2026
1 day ago
Trump turns on Big Oil donors who spent nearly $100 million to get him elected—now he wants the DOJ to investigate them for price gouging
Economy
Trump turns on Big Oil donors who spent nearly $100 million to get him elected—now he wants the DOJ to investigate them for price gouging
By Tristan BoveJune 25, 2026
16 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.