Published On: Wed, Jun 21st, 2017

Uber CEO Travis Kalanick Resigns

In a statement to NYT, Travis Kalanick said: “I love Uber more than anything in the world and at this difficult moment in my personal life I have accepted the investors request to step aside"

 

Travis Kalanick, Uber’s founder, and CEO has resigned from the ride-sharing company after pressure from shareholders, the New York Times reports.

In a statement to the Times Travis Kalanick said: “I love Uber more than anything in the world and at this difficult moment in my personal life I have accepted the investors request to step aside so that Uber can go back to building rather than be distracted with another fight.”

Uber suffer from executive departures and has been searching Fortune 500 chief executives for CEO, COO, CFO, CMO positions following months of scandals, including numerous complaints of sexual harassment.

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Last week Kalanick said in a letter to staff that he was taking an indefinite leave of absence following the sudden death of his mother in a boating accident.

According To NYT report, five of Uber’s most prominent investors recommended that the CEO step aside immediately in a letter titled “Moving Uber Forward.” Kalanick not immediately agreed, but after hours of discussion, he decided to resign.

The board of the company which has raised $11 billion with $70 billion valuations, released a statement:

“Travis has always put Uber first. This is a bold decision and a sign of his devotion and love for Uber. By stepping away, he’s taking the time to heal from his personal tragedy while giving the company room to fully embrace this new chapter in Uber’s history. We look forward to continuing to serve with him on the board.”

Kalanick announced just last week that he was taking a leave of absence from the company.

 

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