Good morning. Uber Technologies is seeing more turnover in its finance ranks.
The global rideshare giant announced on Wednesday that CFO Prashanth Mahendra-Rajah, who joined the company in November 2023, will step down on Feb. 16. He will be succeeded by Balaji Krishnamurthy, vice president of strategic finance. The change gives Uber three CFOs in just over three years.
Mahendra-Rajah will remain with Uber (No. 101 on the Fortune 500) as a senior finance advisor to CEO Dara Khosrowshahi through July 1. His separation will be treated as a qualifying termination under Uber’s Amended and Restated 2019 Executive Severance Plan, according to an SEC filing. Mahendra-Rajah succeeded Nelson Chai, who served as CFO from 2018 to 2023, helping lead Uber through its IPO and early post-IPO years. Chai is now the CEO of DailyPay.
During Uber’s earnings call on Wednesday, Mahendra-Rajah shared insight into his departure, explaining that over the holidays, he reflected on Uber’s progress, including delivering strong growth at scale, achieving investment-grade status, and returning significant cash to shareholders.
“At the same time, a new opportunity presented itself, where I could serve America and give back to the country that has given me and my family so much,” he said. “I look forward to sharing more on that soon.”
On the call, Khosrowshahi said Mahendra-Rajah has been “a great partner to me, and the management team,” pointing to his role in getting Uber to investment-grade status, spearheading its first share repurchase program, and steering the company through several acquisitions.
Khosrowshahi described Krishnamurthy as someone who “knows Uber’s business inside and out and is a brilliant, decisive strategist,” adding that he has worked closely with him and the management team for years. Krishnamurthy joined Uber in 2019 and has led strategic finance since 2023, after heading investor relations from 2020 to 2023.
The average tenure for CFOs at Fortune 500 and S&P 500 companies is about 4.7 years, down from 5.3 years in 2015 and 4.9 years in 2020, according to executive search firm Crist Kolder Associates, which notes that the CFO role carries increasing demands.
Uber’s latest finance leadership change comes as the company accelerates its autonomous vehicle and robotaxi ambitions. Krishnamurthy, who also serves on the board of Waabi, a Toronto-based AI firm developing self-driving software, will help support Uber’s expansion in that area. Waabi recently raised $1 billion and partnered with Uber to deploy at least 25,000 robotaxis on its platform, Fortune reported.
Khosrowshahi said Uber enters 2026 with “a rapidly growing topline, significant cash flow, and a clear path to becoming the largest facilitator of AV trips in the world.”
Uber’s Q4 2025 results showed 200 million monthly users and 20% year-over-year revenue growth to $14.4 billion, its largest consumer base yet. Still, Q1 2026 guidance for gross bookings ($52–$53.5 billion) and adjusted EBITDA ($2.37–$2.47 billion) came in below Wall Street expectations, sending shares down about 5% to the mid-$70s.
Wedbush Securities maintained a Neutral rating and reduced its price target to $75, arguing that investors overestimate Uber’s long-term advantage as autonomous vehicles gain scale. The firm sees Waymo and Tesla leading in the U.S., putting an estimated 30% of Uber’s U.S. mobility bookings and 25% of profits—mostly from top metro markets—at risk of AV disruption.
Sheryl Estrada [email protected]
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