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Uber CEO Travis Kalanick finally resigns

Uber CEO Travis Kalanick Resigns

Uber CEO Travis Kalanick only a few days after taking a leave of absence from the company. The move is not surprising, as Uber had to deal with a garden variety of scandals for the better part of the year.

A group of investors pressured Kalanick to resign, The Wall Street Journal reports, and there’s no successor in place at this time.

“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,” the CEO said in a statement.

The company will be lead by Kalanick’s lieutenants, the report said, but Uber is already a ship missing a few key execs after recent departure. The company doesn’t have a CFO and COO either at this troubled times.

The Journal says that a group of investors including Benchmark, Menlo Ventures, Lowercase Capital, First Round Capital, and Fidelity Investments banded together on Tuesday. They sent Kalanick a letter in which they expressed their doubt about his ability to implement changes at Uber, following an investigation into the company’s alleged sexist practices at the workplace.

Kalanick will continue to be involved in Uber’s business, as he’ll retain his board seat as well as a and a majority of Uber’s voting rights.

The following video, via The Journal, explains all the scandals Uber has been involved in so far this year:

Chris Smith started writing about gadgets as a hobby, and before he knew it he was sharing his views on tech stuff with readers around the world. Whenever he's not writing about gadgets he miserably fails to stay away from them, although he desperately tries. But that's not necessarily a bad thing.

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