Uber’s CMO and COO Depart From The Company After Disappointing IPO

After a disappointing and gut-wrenching Wall Street debut, Uber’s CMO and COO decided that they have to go. Unfortunately for Uber, Barney Harford and Rebecca Messina were the highest-ranking executives in the company.

The Obvious Aftermath

So, why did they leave? Well, as they said, it’s the reason we all thought about it. Over the past two years, the company’s progress is what bothered Harford and now, he is finally leaving the company. But, this isn’t the only reason. Harford mentioned that he wants to be more than a COO and that he realizes his full potential. Unfortunately for Uber, he isn’t keen on continuing to work on this position.

Despite being in Uber from December 2017, he was Khosrowshahi’s right-hand man.

Messina, on the other hand, was in Uber for about nine months. Her reason for the departure is the decision to combine communications, marketing, and policy terms into one. This plan is going to be realized with the leadership of Jill Hazelbaker, who’s been at the company since 2015.

Uber’s Consistent Battle

Let’s remind ourselves of that catastrophic Wall Street debut. Uber’s highly anticipated IPO appeared on the first day of trading at only $42. This was well below the predicted IPO price of $45. During the first week, it slightly rose above that price and then finally dropped again. The company is still fighting an uphill battle to win over the meticulous Wall Street investors. While the investors might still turn their heads towards the company, there are bigger problems for Uber at the moment.

Their main problem might be the possible trade war between China and the United States. Furthermore, the US also mentioned a possible trade war with Mexico, which could also deliver a blow to the company. According to the CNN analysts, they’ve yet to see if Uber will start gaining revenue but that’s going to happen in the next couple of years.

Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.

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