Uber’s head of finance, Gautam Gupta, is leaving the company in July, the Wall Street Journal reports. Gupta’s plan is to join another San Francisco-based startup, but it’s not clear what that startup is. News of his impending departure comes as Uber has reported losses of $ 708 million.
In Q1, Uber’s revenue was $ 3.4 billion, an 18% increase from its last quarter. Uber suffered losses of $ 708 million, not including employee stock compensation “other items,” the WSJ reports. In the three months prior, Uber’s losses were $ 991 million. Uber has $ 7.2 billion in cash on hand, according to the report.
This means that in addition to looking for a number-two executive to team up with Uber CEO Travis Kalanick, Uber will now also need someone to lead up its financial team. Uber, which has not had a chief financial officer since 2015 — when Brent Callinicos bounced and ultimately joined Hyperloop One — is now reportedly on the hunt for an official CFO.
It’s been a rough year for Uber, between allegations of sexual harassment and a series of departures of top-level people at the company. Just last week, Uber lost its general counsel for the Middle East, Europe and Africa.
I’m expecting a call from Uber soon and will update this story when I hear back.
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