Uber has promoted Balaji Krishnamurthy to be its new Chief Financial Officer. He will replace the current CFO, Prashanth Mahendra-Rajah, who is leaving the company after three years. Krishnamurthy has been with Uber for over six years, serving most recently as Vice President of strategic finance and investor relations.
His appointment may signal a strategic shift for Uber toward autonomous vehicle expansion. Krishnamurthy has frequently posted about the company’s self-driving ride-hailing initiatives and holds a board seat at the autonomous vehicle company Waabi.
During Uber’s recent fourth-quarter earnings call, Krishnamurthy outlined the company’s plans for autonomous vehicles. He stated Uber would invest capital in its AV software partners, work with AV manufacturers through equity investments or offtake agreements, and support its AV infrastructure partners. In a written statement, he added that with strong free cash flow, Uber would invest with discipline to position itself to win in an autonomous future.
Uber’s CEO, Dara Khosrowshahi, echoed this focus on the call. He expressed conviction that autonomous vehicles will unlock a multi-trillion dollar opportunity for Uber and fundamentally amplify the strengths of its platform. Khosrowshahi set specific goals, stating that by the end of 2026, Uber expects to facilitate AV trips in as many as 15 cities globally. Furthermore, by 2029, the company intends to be the largest facilitator of AV trips in the world.
The company reported strong financial results for the quarter, with revenue rising to $14.37 billion. This represents a 20 percent increase from the same period a year earlier, driven largely by strong demand for Uber’s food delivery services.