Uber’s New CFO Brings IPO Know-How to the Bench
Ride-hailing company chooses Nelson Chai after a long search
The Wall Street Journal article, “Uber’s New CFO Brings IPO Know-How to the Bench,” features firm research on the number of S&P 500 CFOs that have had CEO experience. The article is excerpted below.
Uber Technologies Inc. picked a finance chief who is well-versed in the IPO process, strengthening and stabilizing the company’s executive team as it prepares for a listing.
The ride-hailing company named Nelson Chai as its new CFO on Tuesday following a long search. Mr. Chai held the top finance job at Merrill Lynch & Co., and NYSE Euronext Inc., the parent company of the New York Stock Exchange. He also helped take public electronic stock exchange Archipelago Holdings Inc. in 2004 in his first CFO role.
In addition to his finance pedigree, Mr. Chai’s CEO experience stands out. Transitions to CFO from CEO are rare. At the end of June, fewer than 3% of S&P 500 CFOs had held a CEO role, according to executive search firm Russell Reynolds Associates. That experience could prove beneficial to Mr. Khosrowshahi.
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