Uber Technologies (NYSE:UBER) CEO Dara Khosrowshahi resigned from the board of autonomous vehicle technology company Aurora Innovation (NASDAQ:AUR), effective Dec. 31, the latter said in a regulatory filing dated Friday.
What Happened: The resignation was not a result of any disagreement between Khosrowshahi and the company regarding any matter relating to its operations, policies, or practices, Aurora said in the filing. Instead, the CEO now intends to focus on his responsibilities at Uber, it said.
"The Company and the entire Board are deeply grateful and appreciative of Mr. Khosrowshahi's service and his immense contributions to the Company over the years in his role as a member on the Board," it said.
The company also appointed Shailen Bhatt to its board as a director. Bhatt is Senior Vice President and Chief Operating Officer for AtkinsRéalis, an engineering, procurement, and construction services company, in the United States and Latin America.
Why It Matters: Uber sold its troubled self-driving vehicle unit called Uber ATG to Aurora in 2020. As part of the equity deal, Uber invested $400 million in Aurora and got a 26% stake in the combined company. Khosrowshahi subsequently joined the board as director.
Aurora is looking to deploy its autonomous trucks in commercial operations in April 2025.
"With additional visibility on the time needed to complete the aforementioned remaining validation, we now expect to launch commercially in April 2025," Aurora CEO Chris Urmson said in a letter to shareholders in October.
"While this is modestly later than we had intended, this timing remains within the margin of error we have anticipated and conveyed throughout 2024."
Uber Freight is one of the many customers to have signed up for Aurora's commercial driverless service.
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