Reuters :
Uber Technologies Inc co-founder Travis Kalanick stepped down as chief executive of the ride-hailing service, following intense pressure from investors, the New York Times reported on Wednesday.
Five large investors, including venture capital firm Benchmark, demanded that the CEO resign immediately in a letter delivered to Kalanick while he was in Chicago, the paper reported citing people with knowledge of the situation.
Kalanick’s move comes after a months-long investigation led former US Attorney General Eric Holder, who was hired by Uber to look into its culture and workplace practices after a female former employee publicly accused the company of what she described as brazen sexual harassment.
In the letter, titled “Moving Uber Forward,” the investors also said the company needed a change in leadership.
Kalanick discussed with at least one Uber board member and after hours of discussions with some of the investors, he agreed to step down, the report said. He will remain on Uber board.
Uber Technologies Inc co-founder Travis Kalanick stepped down as chief executive of the ride-hailing service, following intense pressure from investors, the New York Times reported on Wednesday.
Five large investors, including venture capital firm Benchmark, demanded that the CEO resign immediately in a letter delivered to Kalanick while he was in Chicago, the paper reported citing people with knowledge of the situation.
Kalanick’s move comes after a months-long investigation led former US Attorney General Eric Holder, who was hired by Uber to look into its culture and workplace practices after a female former employee publicly accused the company of what she described as brazen sexual harassment.
In the letter, titled “Moving Uber Forward,” the investors also said the company needed a change in leadership.
Kalanick discussed with at least one Uber board member and after hours of discussions with some of the investors, he agreed to step down, the report said. He will remain on Uber board.
