Jeff Immelt Announces He Will Not Be CEO Of Uber

Uber founder Travis Kalanick

He said he has "immense respect" for the company and its founders.

Uber's eight-member board has been meeting over the weekend to decide on a new leader for the company, which has been without a chief executive since the co-founder, Travis Kalanick, stepped down under pressure on June 20.

Recode has reported that Whitman wants an "understanding" that Kalanick will not be as "deeply involved in the company as he has been" is she were to join the company as CEO. However, Whitman has publicly and staunchly rejected the possibility of becoming Uber's CEO, so her chances are slim. Immelt was among three finalists for the job at the ride-services company, according to sources close to the situation.

Former General Electric CEO Jeff Immelt announced Sunday that he will not take the reigns as chief executive of Uber. Meg Whitman, chief of Hewlett Packard Enterprise Co., is a board favorite despite repeatedly denying the prospect that she would take the job at Uber, said the people, who asked not to be identified because the discussions are private. Its board has become fragmented amid a legal fight between one of the company's top investors and Kalanick.

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The ride-hailing giant, valued at about $70 billion, faces a lawsuit over self-driving auto technology from Alphabet Inc.'s Waymo and a US probe into the use of software to deceive law enforcement officials. The Holder report looked into whether Uber had a culture of sexual harassment, among other things.

Along with some investors questioning Immelt's previous tenure at GE, turmoil on Uber's board reportedly played a major role in Immelt's decision to remove himself from the search. Kalanick's potential role, if any, at Uber under a new CEO has remained a large question during the search process.

She is now president and chief executive of Hewlett Packard Enterprise Company, having split its computer and printer business (HP Inc) from its corporate hardware and services operations in 2014.

Ms Whitman has previously said she is not interested in the job, posting on Twitter that "I am not going anywhere".