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Uber's key CEO candidate backs out at the last minute (updated)
Uber's choice of a replacement CEO just got more problematic. Former GE chief Jeff Immelt has announced that he has "decided not to pursue" Uber's top spot despite reports that he was the leading candidate. Immelt didn't say what prompted the withdrawal, but it's an unusually open declaration given that Uber hadn't publicly discussed that he was in the running. However, sources speaking to Recode suggest that he recently fell out of favor -- and that his departure is coming at a particularly bad time.
Uber favors former GE leader as its next CEO
Ever since Uber ousted CEO Travis Kalanick, there's been one overriding question: just who would be daring enough to replace him and salvage the ridesharing outfit's tattered reputation? At last, an answer is emerging. Recode sources hear that former GE chairman and CEO Jeff Immelt (above) is the "frontrunner" out of the three candidates to lead Uber out of the darkness. Reportedly, the company's board of directors believes Immelt is the most capable of quickly fixing Uber's toxic culture, including sagging employee morale and abundant legal troubles.
