Uber Chief Executive, Travis Kalanick resigns

Uber Founder Travis Kalanick Resigns as CEO
Axios Pro Rata
Author

24 June, 2017

Uber has been trying to move past its hard history, which has grown inextricably tied to Mr. Kalanick. Uber has already fired 20 employees amid these probes.

Uber said that while he was no longer chief executive, he would remain on its board.

Although Sheryl Sandberg is said to be their first choice to be the next Uber CEO, the New York Post's sources also said that former Disney operating chief Tom Staggs is also toward the top of the list.

FILE - In this March 15, 2017, file photo, a sign marks a pick-up point for the Uber vehicle service at LaGuardia Airport in NY.

An Uber spokesperson confirmed to TechCrunch that Kalanick has actually stepped down.

The investors delivered the letter to Kalanick while he was in Chicago, the New York Times reported, citing people with knowledge of the situation. Will it also break it? Kalanick and his allies, including cofounder Garrett Camp and early Uber employee Ryan Graves, are said to dominate the board's super voting seats. "I would say that one person doesn't make a company".

"Even though Kalanick was driving performance, the company is not sustainable in this form", said Jennifer Chatman, a business professor at the University of California at Berkeley.

"He clearly has been outvoted by his board". "It might actually be the best of both".

March 19 - Uber's president of ride-sharing, Jeff Jones, quits abruptly.

The report states that five of Uber's most prominent investors, including Benchmark, wrote a letter titled "Moving Uber Forward", which recommended that the CEO step aside immediately.

Stories of other ousted CEOs include the famous departures of Steve Jobs from Apple or Jack Dorsey from Twitter - both of whom later returned to the companies they helped found. "That's just not the case".

So why did investors make the decision to remove him now? Nightfall of dialog, Kalanick consented to leave. "And I think it was clear Travis had lost the team", Foundation Capital's general partner said on CNBC's "Squawk Alley".

Earlier this month, the group parted ways with its number two executive, Emil Michael, who had reportedly been linked to a number of questionable practices at Uber, including a visit to a South Korean escort-karaoke bar and an attempt to dig up embarrassing information on journalists.

"Now they can look for a chief executive officer and they can really shoot for the stars in terms of experienced talent", Lashinsky said.


More news


  • Record 16 freshmen picked in first round of NBA draft

    Record 16 freshmen picked in first round of NBA draft

    Brett was asked what his conversations with Sam have been since the draft lottery when the #PICKSWAP with Sacramento was executed. The Division II transfer is one of the best stories in this year's draft, going from virtual unknown to first-round choice.

    Australia to resume airstrikes against IS in Syria

    These small bases are an addition to the main garrison at At Tanf where U.S. troops are training local tribes to fight ISIS. The advance brought the Bir Qassab area under the control of government forces, it said, quoting a military source.
    Real Socieded lead chase for Manchester United outcast Adnan Januzaj

    Real Socieded lead chase for Manchester United outcast Adnan Januzaj

    The talent is there, but the application appears not to be, and it's best that Januzaj gets a fresh start somewhere else. As Mou continues to reconstruct the Red Devil squad, many fringe players like Januzaj will be on their way out.
  • Global POS Terminal Market - Strategic Assessment and Forecast 2017

    Global POS Terminal Market - Strategic Assessment and Forecast 2017

    Top down approach was taken into consideration for deriving the market numbers for the product application and type segments. The demand of the product from different application areas and its future consumption is also been discussed in the report.
    Trump approves sale of drones to India

    Trump approves sale of drones to India

    In a statement posted on Facebook , Modi said his two-day visit to Washington from June 25 was at the invitation of Trump. Apart from official meetings with Trump and his cabinet colleagues, Modi will be meeting some prominent American CEOs .
    Astros sweep A's, first to 50 wins

    Astros sweep A's, first to 50 wins

    Springer was replaced by pinch runner Jake Marisnick and went to the clubhouse, accompanied by a team trainer. Houston's Norichika Aoki was 3-for-5 with a double for Houston, raising his batting average to.277.
  • Cruz, Cornyn Split On GOP Senate Healthcare Bill

    The Senate bill would make major cuts in the federal-state Medicaid program for poor and disabled people. This bill also gets rid of the Obamacare mandates, where you had to get insurance or pay a fine.

    Fifth Republican Senator Comes Out Against Senate Health Care Bill

    Sandoval said he would do "everything in my power" to make sure those people can maintain the quality of life they now have. Republicans held 52 seats in the 100-member chamber, which means it can not afford losing more than three of its votes.
    Here are the first vicious NBA shots at Lonzo and LaVar Ball

    Here are the first vicious NBA shots at Lonzo and LaVar Ball

    That would have guaranteed that Lonzo Ball would have been drafted by a different team. This is good for the Lakers because they need someone who can run their plays.
  • Punjab allows liquor sale on highway restaurants

    Punjab allows liquor sale on highway restaurants

    While liquor vends sell liquor, hotels, restaurants and clubs only serve alcohol for consumption within the premises. Also, liquor vends shall neither be directly visible nor accessible from highways.
    California woman finds frog in her salad

    California woman finds frog in her salad

    BJ's Restaurant and Brewhouse has since reached out to her, but Cepeda claims their response was a little lacking. Restaurant staff told Cepeda that a vendor provides produce to the restaurant, according to Cepeda's review.
    Republicans Are 4-0 Defending Seats, but Could Still Be in Trouble

    Republicans Are 4-0 Defending Seats, but Could Still Be in Trouble

    There are just over 500 days until the 2018 midterm elections, during which time the political landscape will undulate repeatedly. Pelosi said: "Usually they go after the most effective leaders because they want to diminish the opportunity that we have".