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CFO Prashanth Mahendra Raja, who joined the company in November 2023, will step down from his position on February 16, the global ride-sharing giant announced on Wednesday. He will be succeeded by Balaji Krishnamurthy, Vice President of Strategic Finance. The change gives Uber three CFOs in just over three years.

Mahendra Raja will stay with Uber (No. 101 (Fortune 500) as senior financial advisor to CEO Dara Khosrowshahi until July 1. His separation will be treated as a qualifying termination under Uber’s amended and restated 2019 executive severance plan, according to SEC filing. Mahendra Raja succeeds Nelson Chai, who served as CFO from 2018 to 2023 and helped lead Uber through its IPO and early post-IPO years. Chai is now CEO of DailyPay.

During Uber’s earnings call on Wednesday, Mahendra Raja shared insight into his departure, explaining that over the holidays, he reversed the progress Uber had made, including delivering strong growth at scale, achieving investment grade status, and returning significant cash to shareholders.

“At the same time, I have a new opportunity where I can serve America and give back to the country that has given me and my family so much,” he said. “I look forward to sharing more about that soon.”

On the call, Khosrowshahi said Mahindra Raja has been “a great partner to me and the management team,” noting his role in getting Uber to investment status, leading its first stock buyback program, and guiding the company through several acquisitions.

Khosrowshahi described Krishnamurthy as someone who “knows Uber’s business inside and out and is a brilliant and decisive strategist,” adding that he has worked closely with him and the management team for years. Krishnamurthy joined Uber in 2019 and has led strategic finance since 2023, after heading investor relations from 2020 to 2023.

the Average duration For CFOs at Fortune 500 and S&P 500 companies, it’s about 4.7 years, down from 5.3 years in 2015 and 4.9 years in 2020, according to executive search firm Crist Kolder Associates, which notes that the CFO role carries increasing demands.

Uber’s latest change in financial leadership comes as the company accelerates its ambitions in self-driving vehicles and robotaxis. Krishnamurthy, who also serves on the board of Waabi, a Toronto-based artificial intelligence company that develops self-driving software, will help support Uber’s expansion into this space. Waabi recently raised $1 billion and partnered with Uber to deploy at least 25,000 robotaxis on its platform. luck I mentioned.

Khosrowshahi said Uber enters 2026 “with a rapidly growing growth pipeline, significant cash flow, and a clear path to becoming the largest facilitator of self-driving vehicle trips in the world.”

Uber Fourth quarter 2025 results It demonstrated 200 million monthly users and 20% year-over-year revenue growth to $14.4 billion, its largest consumer base to date. However, first-quarter 2026 guidance for gross bookings ($52-$53.5 billion) and adjusted EBITDA ($2.37-$2.47 billion) fell short of Wall Street expectations, sending shares down about 5% to the mid-70s.

Wedbush Securities maintained a Neutral rating and lowered its price target to $75, arguing that investors are overvaluing Uber’s long-term advantage as self-driving vehicles gain volume. The company sees Waymo and Tesla Leading in the US, putting an estimated 30% of Uber’s US mobility bookings and 25% of revenue — mostly from major metro markets — at risk of AV disruption.

Cheryl Estrada
sheryl.estrada@fortune.com

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Fortune 500 power moves

Luke Bickers He was promoted to Senior Vice President and Chief Financial Officer of McDonald’s USA, (No. 165), as of March 1. Beckers will report to Ian Borden, McDonald’s global chief financial officer. Bickers began at McDonald’s in April 2024 as senior vice president of corporate finance, overseeing the corporate controllers, financial planning and analysis group and the global tax, treasury and insurance teams. He came to McDonald’s From General Motors, where he held CFO positions for GM’s international operations and GM’s joint venture operations in China, in addition to various corporate finance roles.

Every Friday morning, our weekly Fortune 500 Power Moves column tracks the transitions to executive positions at a Fortune 500 company —See latest edition.

More notable moves

Fernando Castro Caratini He was appointed interim CFO of the company Sun Communities Inc (NYSE:SUI), a real estate investment trust, effective immediately. He succeeds Mark E. Batten, who has left the company. Patten’s departure was a mutual decision and not the result of any disagreements regarding the company’s financial policies, according to the announcement. Sun Communities is conducting a search for a permanent CFO. Castro Caratini, who joined the company in 2016, serves as a senior advisor to Sun Communities and previously served as its CFO.

Eric Schultz Promoted to the position of Chief Financial Officer and Chief Accounting Officer of SIFCO Industries, Inc. (NYSE American: SIF), a manufacturer of automated components and assemblies for aircraft and engine manufacturers, as of February 20. He will succeed Jennifer Wilson, who resigned, according to SEC filing. Schultz is currently Director of Strategy and Administration and has over 25 years of experience in finance. He was previously CFO of Bowden Manufacturing Corp. Earlier in his career, he served as CFO of Core Systems, LLC, Homestead Capital, LLC, and CFO of the Blue Coral/Slick 50 division of Quaker State Corporation.

Big deal

“Agent Saga: What the 2030 American Agent season will look like“ is a new article by Teneo. He argues that corporate governance is undergoing a transformation and that the 2030 US proxy season will be fundamentally different from anything companies have faced before. The article identifies five key predictions for the future of proxy voting. For example, it suggests that AI voting systems are likely to replace traditional proxy advisors and explores the implications of proprietary AI models and how companies obtain and process proxy data. Teneo also offers tips on how to prepare for a more complex and less predictable contributor. Landscape.

Go deeper

“Alphabet plans to double capital spending to potential $185 billion, but it’s keeping CEO Sundar Pichai up at night.” A luck condition By Amanda Gerrott.

Gerut writes: “During Alphabet’s fourth-quarter earnings call on Wednesday, CEO Sundar Pichai and CFO Anat Ashkenazi revealed that the $4 trillion tech giant will spend between $175 billion and $185 billion in capital expenditures in 2026, possibly doubling the $91.4 billion it spent in 2025 — a far cry from the $52.5 billion recently spent in 2024. Capital investments reach $27.9 billion. The move is part of what Pichai described as maintaining a strong pace of competition in the field of artificial intelligence. Read more here.

I heard

“They are part of the media leadership succession dream team, groomed from within in a classic succession process for pilot assignments that led to demonstrated competency and credibility.”

— Jeffrey Sonnenfeld, professor and founder of the Yale Executive Leadership Institute, and Steven Henrichs, senior research fellow, write in an article luck Opinion piece About Walt Disney Company CEO Bob Iger’s announcement that Josh D’Amaro has been promoted to CEO and Dana Walden to president and chief creative officer.