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Uber stock hit by executive shake-up a month after the IPO

Shares of Uber Technologies Inc. fell more than 1% in the extended session Friday after Chief Executive Dara Khosrowshahi said in an email to employees the ride-hailing company’s chief operating officer and chief marketing officer are leaving.

Khosrowshahi said in the email that he and COO Barney Harford had agreed that the chief operation officer role at Uber UBER, -1.69% “no longer makes sense” now that Khosrowshahi, a month past the company’s initial public offering, had more time to be “even more involved” in Uber’s day-to-day operations. Harford will stay on until July 1 to help with the transition.

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