Dive Brief:
- Waymo has appointed Google executive Steve Fieler to become its CFO, the autonomous driving technology company announced Monday.
- Fieler will succeed Elisa de Martel, effective Dec. 1, according to a LinkedIn post by Waymo Co-CEO Tekedra Mawakana.
- “This is a pivotal moment in our journey as we continue to scale our fully autonomous ride-hailing business, expand our operations globally and grow our team,” Mawakana said in the post. “Steve's extensive experience will be instrumental in guiding us through this next transformational chapter.”
Dive Insight:
Alphabet-owned Waymo provides a public, fully autonomous ride-hailing service. Riders can use the Waymo app to hail an autonomously-driven vehicle at any time of day, according to the company’s website.
On Wednesday, the company announced that it will begin offering driverless rides on highways across the San Francisco Bay area, Phoenix and Los Angeles. It’s the first time a U.S. robotaxi provider has made freeway services available, a milestone that positions Waymo to better compete with ride-hailing companies and traditional taxi services, Bloomberg reported.
Alphabet’s “Other Bets” segment, which includes autonomous transportation services, generated $344 million in revenues in the third quarter ended Sept. 30, down from $388 million a year earlier, according to earnings results released last month.
Fieler comes to his new position with nearly three decades of financial experience, most recently as vice president of planning, BizOps, investments and investor relations at Google, according to a blog post by Mawakana.
Fieler also previously held the role of business finance officer for Google's platforms and ecosystems unit, responsible for products such as Android and Chrome. “His five years of experience within Google and the broader Alphabet ecosystem give him invaluable insight into our foundation and growth ambitions,” Mawakana said.
Prior to his time at Google, Fieler served as CFO of HP.
Waymo’s current CFO is stepping down after three years in the role. The company didn’t immediately respond to a request for comment on the reason for de Martel’s departure.
“I want to thank Elisa de Martel for the impact she has made over the last three years as our CFO,” Mawakana said in her LinkedIn post. “We’re wishing her the best as she embarks on her next chapter.”
