24 June, 2017
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.