Waymo announces new CFO Steve Fieler

Waymo has appointed Steve Fieler, a former Google executive, as its new Chief Financial Officer, marking a significant step for the self-driving vehicle company. This announcement comes as Waymo, a subsidiary of Alphabet, is actively expanding its robotaxi services across various markets, with ambitions to broaden its reach even further by 2026. Fieler's extensive background in finance is expected to play a crucial role as Waymo navigates this pivotal phase. Co-CEO Tekedra Mawakana expressed confidence in Fieler's capabilities, stating that his experience will be vital for the company's future endeavors, which may involve seeking additional external investments. The transition raises questions about the future role of Elisa de Martel, the previous finance chief who took on her position in 2022. Neither Waymo nor de Martel has provided comments regarding her status following Fieler's appointment. Before joining Waymo, Fieler was a prominent figure within Google's CFO leadership team, where he oversaw planning, investments, and investor relations. His prior experience includes serving as the business finance officer for Google's Platforms and Ecosystems division, which encompasses popular products such as Android and Chrome. Furthermore, Fieler has held various financial positions at HP and multiple early-stage companies, as well as at General Electric. In financial news, Alphabet's 'Other Bets' segment, which includes Waymo, reported revenues of $344 million in the third quarter, a decrease from $388 million year-over-year. Moreover, losses in this segment increased, rising from $1.12 billion last year to $1.43 billion this year. Currently, Waymo operates commercial services in cities like Los Angeles, Phoenix, San Francisco, Atlanta, and Austin. Looking ahead, the company has announced plans to initiate robotaxi services in Miami and Washington, D.C., by 2026 and recently received permits to start testing autonomous vehicles with trained safety drivers in New York City.