Kalanick steps down from Uber
Uber boss Travis Kalanick has resigned as CEO after pressure shareholders.
Five major investors wrote to Mr Kalanick saying that he must leave Uber immediately and that the company needed a change in leadership.
His resignation comes after a review of practices at the firm and scandals including complaints of sexual harassment.
Mr Kalanick reportedly 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.’
Mr Kalanick will remain on the board of the ride-hailing firm, retaining control of a majority of Uber’s voting shares.
Uber’s board said in 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 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.’