This site uses cookies to improve your experience and to provide services and advertising. By continuing to browse, you agree to the use of cookies described in our Cookies Policy. You may change your settings at any time but this may impact on the functionality of the site. To learn more see our Cookies Policy.
OK
Dublin: 1 °C Thursday 18 October, 2018
Advertisement

Embattled Uber founder Travis Kalanick steps down as CEO

Kalanick had already been on a leave of absence aimed at restoring confidence in the scandal-plagued company.

Image: DPA/PA Images

Updated at 9am 

UBER HAS CONFIRMED its embattled chief executive Travis Kalanick has agreed to step down from his job.

Kalanick had already been on a leave of absence aimed at restoring confidence in the scandal-plagued lift-sharing giant.

The New York Times reported early today that five of the company’s major investors had demanded his departure.

“I can confirm Travis has resigned,” a spokesperson confirmed in an email.

He also quoted from a board statement saying that “Travis has always put Uber first”.

“This is a bold decision and a sign of his devotion and love for Uber,” the board said.

The pioneering company has been facing pressure to rein in a no-holds-barred management style led by Kalanick and to reform its workplace culture, which has sparked charges of harassment and discrimination.

Kalanick is to stay on as a board member, Uber said.

The investors, who made their demand in a letter, include one of Uber’s biggest shareholders, the venture capital firm Benchmark, the New York Times said.

In the letter, titled “Moving Uber Forward”, the investors told Kalanick that he must immediately leave and that the company needed a change in leadership, the Times reported.

Kalanick consulted with at least one Uber board member and after long discussions with some of the investors, he agreed to step down, the paper 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,” Kalanick said in a statement, quoted by the Times and confirmed by Uber.

Last week, Kalanick said one of the reasons for taking a leave of absence was the recent death of his mother.

Uber, which is the world’s richest venture-backed startup valued at some $68 billion, operates in dozens of countries despite problems with regulators in many jurisdictions and protests from established taxi operators.

Kalanick had been seen as the driving force behind Uber despite a series of embarrassing missteps.

© AFP 2017

Read: Dublin is the 66th most expensive city in the world for expats >

Read: The Saudi king has ousted his nephew as crown prince, and installed his son >

  • Share on Facebook
  • Email this article
  •  

About the author:

AFP

Read next:

COMMENTS (22)

This is YOUR comments community. Stay civil, stay constructive, stay on topic. Please familiarise yourself with our comments policy here before taking part.
write a comment

    Leave a commentcancel