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Uber’s board of directors has voted for a change in governance structure that will pave the way for an investment from SoftBank. The Japanese giant, which is considering putting in over US$1 billion, is also an investor in Asian ride-hailing companies Didi Chuxing, Grab, and Ola.
The approved measures will reduce the clout of co-founder and ousted CEO Travis Kalanick, according to NYT sources. But some measures proposed by new CEO Dara Khosrowshahi, including one that could have prevented Kalanick’s return as CEO, were dropped before the meeting.
The board also approved a resolution to go public by 2019. Uber was last
