On September 29, Travis Kalanick used his right to name directors without board approval and appointed former Xerox (XRT) CEO Ursula Burns and former CIT Group (CIT) John Thain to Uber's board. No stranger to scandal, Thain may be an interesting choice for controversy-ridden Uber.
Prior to his generally positive performance at CIT Group before retiring in 2015, Thain was the last CEO of Merrill Lynch prior to its merger with Bank of America (BAC) in 2008. He reportedly forcibly resigned from the merged company in 2009 due to controversies involving a larger than expected earnings miss, executive bonuses and a $1.22 million office renovation.
Prior to running the show at Merrill, he served as president of the New York Stock Exchange from 2004 to 2007 following serving as president of Goldman Sachs GS from 1999 to 2003.
He began his career at Goldman Sachs in 1979 after receiving his M.B.A from Harvard.
Is Thain the right fit for Uber?
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