Uber CEO Travis Kalanick resigns – report

Travis Kalanick has resigned as CEO of Uber due to pressure from investors, it has been reported.

The Uber CEO resigned after five of the firm’s key investors demanded he do so, the New York Times reported, citing “two people with knowledge of the situation”.

It’s claimed that several investors sent a letter to Kalanick in Chicago, demanding that he step down. The Uber CEO had been on an indefinite leave of absence after the death of his mother in a boating accident last month.

“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 was quoted as saying.

Uber CEO Travis Kalanick will step down, bowing to heavy investor pressure

However, Kalanick had been under pressure for months now, following widespread reports about the company’s corporate culture and claims of sexual harassment. It didn’t help when a video emerged earlier this year, showing the CEO arguing with an Uber driver.

Then there were the reports of the service overstepping privacy boundaries, psychologically manipulating drivers and president Jeff Jones resigning after six months on the job.

The Uber co-founder will remain on the board of directors however.

Featured image: Strelka Institute/Ivan Gushchin via Flickr (CC 2.0 BY, resized)