In the wake of the resignation by Uber CEO Travis Kalanick and expectations for the company to hold an initial public offering in the near future, Jared Carmel said in an interview Wednesday with CNBC’s “Power Lunch” that it was the right time for the company to have new leadership.

Carmel, a managing partner at Manhattan Venture Partners who is involved in pre-IPO investment, praised Kalanick for being a disruptor that changed a highly regulated industry, but said the company now needs to be led by someone with more experience.

“It’s one thing to have a CEO with a great vision … but at this point and at this juncture in the life of Uber and the likely IPO that should come at some time in the near future, I think you need a C-suite with gravitas that understands how to run a public company.”

Carmel, an investor in ride-hailing company Lyft, said the drama surrounding Uber has distracted the company, and opened the door for Lyft to grow into their space.

“Depending on the city you’re in, both drivers and customers alike seem to prefer Lyft,” he said.

Source: Tech CNBC
Uber needs new leadership with a possible IPO on the horizon, expert says