Wednesday, 21 June 2017

Uber’s CEO and co-founder Travis Kalanick steps down

Travis Kalanick.

Uber’s troubled CEO and co-founder Travis Kalanick has resigned after a shareholder revolt, the company said in a statement.
Wednesday’s announcement came after a shareholder revolt as the company launched a new campaign to change its image amid a number of sexual harassment claims in the workplace, among other concerns.
The company’s board confirmed the move, saying that Kalanick is taking time to heal from the death of his mother in a boating accident “while giving the company room to fully embrace this new chapter in Uber’s history”.
On Tuesday, five of the ride-hailing app’s major investors demanded the chief executive step down immediately in a letter delivered to him in Chicago.
In a statement, Kalanick said his resignation would help Uber go back to building “rather than be distracted with another fight”, an apparent reference to efforts on the board to remove him.
A week ago, the 40-year-old said he would taken an indefinite leave of absence from the company. He will remain on the board of directors.
The resignation came after a series of costly missteps under Kalanick.
The San Francisco based company is trying to reverse damage done to its reputation by revelations of sexual harassment in its offices, allegations of trade secrets theft, and an investigation into efforts to mislead government regulators.On Tuesday, Uber embarked on a 180-day programme to change its image by allowing riders to give drivers tips through the Uber app, something the company had resisted under Kalanick.
Uber’s board said in a statement that Kalanick had “always put Uber first”.
Earlier this year, Uber came under fire through a #DeleteUber campaign, following Kalanick’s acceptance to serve as an adviser to US President Donald Trump.
Kalanick later stepped down from the advisory council.
The company’s hard-charging style has led to legal trouble.
The US Justice Department is investigating Uber’s past usage of phony software designed to thwart local government regulators who wanted to check on whether Uber was carrying passengers without permission.
Uber is also fighting allegations that it relies on a key piece of technology stolen from Google spin-off Waymo to build self-driving cars.

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