Uber, the international mobile ride request company operating in 53 countries and worth tens of billions of dollars, has left its CFO seat vacant since March 2015, according to Business Insider.
The ride-hailing giant is valued at more than $62.5 billion, according to figures it is reportedly using in discussions with investors about a new $2 billion funding round, Business Insider reported. Despite operating a major branch in China and an elaborate tax structure across numerous subsidiaries, there is no indication Uber will fill the CFO role any time soon.
When it was three years old in 2013, Uber named Brent Callinicos, who previously served as treasurer for both Google and Microsoft, CFO. When Mr. Callinicos joined the startup, it was valued at $3 billion. When he left in March 2015, he had scaled Uber's finances to operate in 53 countries and a valuation of $42 billion.
Mr. Callinicos has stayed close to Uber as an advisor, but the company did not appoint an interim CFO. However, in a letter to investors, Uber CEO Travis Kalanick said Mr. Callinicos' "right hand on strategic finance," Gautam Gupta, became acting head of finance, according to the report.
In the nearly 11 months since Mr. Callinicos' departure, none of the dozen of investors, CFOs, Uber employees or industry leaders Business Insider spoke to had heard anything about a search for a replacement.
Some observers say the move might be strategic.
"As much as they sometimes seem like they're stumbling around getting in trouble in certain cities, it's actually a company that behind the scenes has people [who] are very financially sophisticated," said Erik Gordon, a professor specializing in entrepreneurship at the University of Michigan, according to the report. "They have to have someone. I think the mystery is why they haven't named it yet."
Mr. Gordon speculates Uber is timing itself for an initial public offering, and it is holding off appointing a CFO until it is ready to go public.
"They could be waiting until they think they're 12 months from an IPO and bring somebody in who could take them through the experience. Someone who can make sure all of the accounting is done or even restated in a way that satisfies the SEC," Mr. Gordon said, according to the report. "If you thought the IPO was three years away, then you wouldn't hesitate."