8-KLeadership Changes

Uber Technologies, Inc 8-K Report, Executive Changes (Mar 23, 2020)

Filed March 23, 2020For Securities:UBER

Summary

Uber Technologies, Inc. (UBER) announced on March 23, 2020, the appointment of Robert Eckert to its Board of Directors as an independent director, effective March 20, 2020. This appointment is significant as Mr. Eckert brings extensive experience from leadership roles at major consumer brands and private equity, which the company believes will be invaluable as Uber navigates its next phase of growth. Mr. Eckert's background includes serving as Chairman and CEO of Mattel, Inc. and extensive experience at Kraft Foods, Inc. He is also an Operating Partner at FFL Partners, LLC and holds current board seats at several other prominent companies, including McDonald's Corporation and Amgen, Inc. His appointment to Uber's Board, specifically to the Compensation and Nominating and Governance Committees, is expected to leverage his expertise in corporate governance, consumer brand building, and financial strategy.

Key Highlights

  • 1Robert Eckert appointed as an independent director to Uber's Board of Directors.
  • 2Mr. Eckert brings substantial experience from leadership roles at Mattel and Kraft Foods, and as an Operating Partner at FFL Partners.
  • 3The company emphasizes Mr. Eckert's 'world-class experience and insights' and his understanding of 'building a world-class consumer brand'.
  • 4Mr. Eckert has been appointed to serve on the Compensation Committee and the Nominating and Governance Committee.
  • 5The appointment is intended to bolster the Board's expertise in areas crucial for Uber's future growth and governance.
  • 6Mr. Eckert will receive compensation for his service, including an annual cash retainer and a grant of restricted stock units, prorated for his partial year of service.

Frequently Asked Questions

Robert Eckert is a seasoned executive with extensive experience in leading large global public companies. He previously served as Chairman and Chief Executive Officer of Mattel, Inc. and held various leadership positions at Kraft Foods, Inc. He is currently an Operating Partner at FFL Partners, LLC, a private equity firm, and sits on the boards of several other major corporations, including McDonald's Corporation and Amgen, Inc.

Uber appointed Mr. Eckert to leverage his significant leadership experience as a CEO of global public companies, his expertise in building global consumer brands, and his financial acumen gained from his roles in private equity. The company believes his insights will be invaluable as Uber enters its next decade and continues to grow.

Mr. Eckert has been appointed to serve on Uber's Compensation Committee and Nominating and Governance Committee.

Mr. Eckert will participate in Uber's standard compensation program for non-employee directors. This includes an annual cash retainer of $50,000 and a grant of restricted stock units valued at $250,000, both prorated for his partial year of service. He will also receive an additional cash retainer for his committee service.