Uber appoints Nelson Chai as CFO

Ride-sharing firm Uber, which is expected to file its IPO during the end of the next year, appointed Nelson Chai as its CFO.  He joins Uber from the Chicago-based Warranty Group, an insurance and warranty provider, where he was CEO. Uber has been looking out for a finance chief since Brent Callinicos left the reins in 2015.

“Uber is one of the world’s most iconic and exciting technology companies, and I’m honored to join as CFO,” said Chai. He added, “I look forward to working closely with Dara and team as we build on the company’s strong growth and forward momentum.”

Chai, an MBA graduate from the Harvard Business School, has worked in CIT Group for over five years and he served there as President recently. Before that, the investment banker served as finance chief of Merrill Lynch.

“He will be a great partner for me and the entire management team as we move towards becoming a public company,” said Dara Khosrowshahi, Uber CEO.

Last week, Uber reported its second-quarter results, in which revenue surged more than 60% and bookings grew above 40%. The company narrowed its net loss to $891 million from the $1.06 billion loss reported in the year-ago quarter.

Currently, Nelson Chai serves as a director on Thermo Fisher Scientific’s (TMO) Board and is also a member of the national board of directors of the US Fund for UNICEF.

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