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Uber appoints new head for India and South Asia

Uber appoints new head for India and South Asia
Pradeep Parameswaran, Uber's president for India and South Asia. Reuters

US-headquartered cab aggregator Uber on Tuesday announced the appointment of Pradeep Parameswaran as its new president for India and South Asia.

The post had been vacant since last month, when Uber had elevated Parameswaran’s predecessor Amit Jain as president of the firm's Asia-Pacific operations.

Parameswaran joined Uber in January last year and has been leading operations in India and South Asia.

“Over the last year-and-a-half, Pradeep has been instrumental in our growth, cementing the region as a critical contributor to our global vision,” said Jain.

Parameswaran has more than two decades of management experience across the technology, media and telecommunications sectors.

He started his career at FMCG-firm Hindustan Lever, followed by a 13-year stint at consulting firm McKinsey & Co. Before joining Uber, he was the chief executive of Den Networks, a cable TV company.

Parameswaran is an MBA from Vanderbilt University in US and he holds a bachelor’s in engineering from University of Mumbai, according to his LinkedIn profile.

His appointment comes at a time when Uber is looking to double down on its investments in India amid a bruising battle with homegrown rival Ola.

The Dara Khosrowshahi-led company has turned its attention to India after selling its China and Southeast Asia units to Didi Chuxing and Grab, respectively. Apart from India, it also offers services in Bangladesh, Sri Lanka and Pakistan in the region.

Both Uber and Ola have suffered heavy losses in their efforts to get an upper hand in India.

Uber’s India-specific financials are not yet available.

In the financial year 2016-17, Ola’s consolidated net loss widened to Rs 4,897.9 crore from Rs 3,147.9 crore the previous fiscal. Consolidated total expenditure rose to Rs 5,183.6 crore from Rs 3,959.1 crore in the same period.

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