- Embattled Uber CEO Travis Kalanick has resigned from his post, The New York Times reports.
- Kalanick reportedly handed in his resignation notice a matter of hours after five of the company’s major investors – including VC firm Benchmark – wrote to him demanding that he step aside.
- In a letter titled “Moving Uber Forward,” the investors stated that the company needed a change in leadership and requested Kalanick’s immediate departure. Kalanick will apparently remain on Uber’s board of directors.
Why it matters:
- Uber has had a tumultuous few months. The ride-hailing company has attracted negative headlines over a variety of issues, including allegations of sexual harassment and misconduct, as well as repeated complaints that it has mistreated or underpaid its drivers.
- Kalanick went on leave earlier this month to deal with a family bereavement and to reflect on Uber’s work culture troubles.
Source: The New York Times.
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