Travis Kalanick resigns as Uber CEO

Jun 21, 2017 12:16 IST

Travis Kalanick, the Chief Executive Officer of Uber announced his resignation from the post on 21 June 2017.

Kalanick reportedly took the hard decision after a group of major Uber investors demanded his immediate resignation.

Speaking on the same, Kalanick said, “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.”

Travis Kalanick resigns as Uber CEO

Kalanick will, however, stay on Uber’s board of directors and control a majority of its voting shares.

The official statement released by the company’s board read, “Travis has always put Uber first. This is a bold decision and a sign of his devotion and love for Uber.” It further stated that by stepping away, he’s taking the time to heal from his personal tragedy while giving the company room to fully embrace this new chapter in Uber’s history.  

“We look forward to continuing to serve with him on the board,” the statement added. 

Background

The ride-hailing company has been hit by a barrage of controversy and scandals over the past year. 

The company’s troubles included widespread allegations of sexual harassment, a video showing Kalanick engaging in a heated argument with a driver, a major lawsuit claiming intellectual property theft from Google’s Waymo self-driving car unit and uproar over an executive obtaining the medical records of a woman who was raped by a driver in India.

The company also reportedly fired more than 20 employees recently as a result of an investigation into its work culture.

Top 300 CA eBook

About Travis Kalanick

• Born on 6 August 1976, he is an American computer programmer and businessman. 

• He co-founded two a peer-to-peer file sharing service companies between 1998 and 2007, Scour Exchange and Red Swoosh, both of which didn’t do very well. 

• While Scour Exchange filed for bankruptcy to protect itself from a lawsuit, Red Swoosh was sold to another American technology company. 

• He co-founded UBER, the transportation network company in 2009. 

• In 2014, his name was featured on the Forbes list of the 400 richest Americans at 190th position, with an estimated net worth of US$6.3 billion.

• In December 2016, he along with CEOs of other leading American companies was appointed as an economic advisor on Trump's Strategy and Policy Forum.

• Kalanick later announced that he would step down from the council after continued pressure, following his very vocal opposition to President Trump's executive order banning travel from select countries.

• Kalanick’s reputation as an abrasive leader has somewhere reflected in Uber’s brash, aggressive business practices.

• The company though grew into a transportation giant under his tenure, it seemed incapable of stopping itself from being dragged into controversies.

Is this article important for exams ? Yes2 People Agreed

DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.

Latest Videos

Register to get FREE updates

    All Fields Mandatory
  • (Ex:9123456789)
  • Please Select Your Interest
  • Please specify

  • ajax-loader
  • A verifcation code has been sent to
    your mobile number

    Please enter the verification code below

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK