After months of turmoil due to allegations in the media by former employees, Uber CEO Travis Kalanick resigns after pressure from major investors.

M. Shazni  |  Singapore
Published 2017-06-21 14:07:00

Uber has endured much negative press in recent times, no thanks to the revelations being made about founder and CEO Travis Kalanick.

Here’s a quick breakdown on why he has officially left the company that he founded in 2009.

Major Uber Investors Are Unhappy With Travis Kalanick

The New York Times revealed that his resignation came at the behest of a group of Uber’s major investors who demanded the resignation with immediate effect.

It started with an investor letter to the former CEO, which then turned into a few hours of intense discussion – eventually leading to Kalanick’s stepping down.

“A Change Of Leadership”

With investors looking for a change in leadership in Uber before moving forward, this moves comes at a time when the company is in the process of ‘self-cleansing’ to rid itself of multiple allegations brought forward by former staff that all stemmed from the same source – CEO Travis Kalanick.

The biggest headline among them are the allegations of sexual harassment which were seemingly widespread within the company.

Earlier this month, some 20 employees involved were laid off as part of an ongoing internal probe.

After announcing his resignation, he left a parting statement to The New York Times:

“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,” 

It should be noted though that while he is no longer the chief executive, Travis Kalanick will still be on Uber’s Board of Directors.

We’ll update this article as more details are released.

Featured Image Credit: Inc

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