Group boss quits
San Francisco – Uber’s embattled chief executive Travis Kalanick, pictured, has resigned, yielding to pressure from investors seeking to clean up a toxic corporate culture at the fast-growing “ridesharing” group.
Kalanick had announced an indefinite leave of absence a week earlier following the release of a report on Uber’s workplace troubles by former US attorney-general Eric Holder.
His departure announced late on Tuesday caps a rocky period for the global ridesharing giant, which has been roiled by reports of a cutthroat workplace culture, harassment, discrimination and questionable business tactics to thwart rivals.
“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. The Uber board of direc- tors welcomed the “bold decision,” saying it marked a “sign of his devotion and love for Uber.”
Kalanick, who has been the driving force behind Uber’s massive global expansion and whose brash style had made him a liability, will remain on the board with a large voting stake in the company, whose $68 billion valuation makes it the world’s largest venture-backed startup.
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.
In a letter, titled “Moving Uber Forward,” key investors told Kalanick that he must immediately leave as part of a necessary change in leadership. –
I love Uber more than anything in the world and I have accepted the investors’ request to
step aside.