Jeff Immelt refuses to captain Uber's ship

Just when we felt Uber may have finally found an anchor, looks like it was all just a mirage. Former GE CEO Jeff Immelt who had so far been the 'front-runner' to be Uber's next CEO has refused to take up the job.

In a tweet Immelt said,

I have decided not to pursue a leadership position at Uber. I have immense respect for the company & founders - Travis, Garrett and Ryan.

— Jeff Immelt (@JeffImmelt) August 27, 2017

The tweet is somewhat similar to how HPE CEO Meg Whitman recently turned down the offer. The ride-hailing company has been trying to find an able captain to steer its ship ever since Travis Kalanick resigned under shareholders' pressure.

Uber is currently mired in multiple lawsuits and scandals and that could very well be the core reason behind people not wanting to join the company.

The search for the next CEO is also being affected by  the ugly boardroom battles. Benchmark Capital, which is also one of the Uber’s largest shareholders, has filed a lawsuit against Kalanick accusing the former chief executive of fraud, breach of contract and breach of fiduciary duty. This was followed by three other Uber investors reportedly asking Benchmark to divest its shares and step down from Uber board.

Though we don't know whats currently brewing inside Uber's boardroom, but stakes are really high for the world's most valuable company that's seeing no end to its troubles at the moment.