Uber Appoints Prashanth Mahendra-Rajah as New CFO Amid Growth Challenges

Uber is set to welcome a new Chief Financial Officer (CFO), with semiconductor firm Analog Devices' CFO, Prashanth Mahendra-Rajah, slated to assume the position at Uber on November 13, the rideshare company announced.

In a statement, Uber CEO Dara Khosrowshahi expressed confidence in Mahendra-Rajah's ability to contribute to further innovation and efficiency, particularly as Uber navigates its next phase of profitable growth.

Mahendra-Rajah joins Uber at a juncture when the company faces the challenge of slower growth following an initial surge in ridership post-pandemic. In the last reported quarter, Uber's revenue increased by 14%, marking a slower pace compared to previous quarters. Nonetheless, the company achieved its first-ever unadjusted profit and recorded record quarterly free cash flow.

This announcement follows Uber's disclosure nearly two months ago that its current CFO, Nelson Chai, intended to depart by January, prompting the initiation of the search for a replacement. Chai has served as the company's finance chief since 2018.

As the CFO of Analog Devices, Mahendra-Rajah played a key role in overseeing the chipmaker's financial strategy during a period of heightened demand for semiconductors, which are integral to the development of artificial intelligence (AI) models.