Uber co-founder Travis Kalanick resigns as CEO

Uber co-founder Travis Kalanick has reportedly stepped down as the company’s chief executive officer.

The company confirmed Kalanick’s departure from the top executive’s role, after five major backers including Benchmark Capital demanded he resign, according to reports.

Uber chief Travis Kalanick resigns as CEO
Uber chief Travis Kalanick resigns as CEO

Kalanick’s exit follows months of controversies at the ride-hailing company, including claims of sexual harassment and sexism. Earlier this month, it was reported that Kalanick will take an indefinite leave of absence, leaving the company to be run by a management committee. However, despite recent turmoil, Uber’s business is growing with revenue increased to $3.4 billion in the first quarter.

In the letter, titled ‘Moving Uber Forward,’ which was obtained by The New York Times, the investors wrote to Kalanick that he must immediately leave and that the company needed a change in leadership.

The Uber chief then consulted with at least one Uber board member and after long discussions with some of the investors, he agreed to step down. He will remain on Uber’s board of directors.

“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.

Uber’s board said in a statement that Kalanick had “always put Uber first” and that his stepping down as chief executive would give the company “room to fully embrace this new chapter in Uber’s history.”

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