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Uber founder Travis Kalanick resigns as CEO

Five of the company's major investors wrote to Kalanick, asking him to step down

Mike Issac | NYT 

Travis Kalanick stepped down Tuesday as chief executive of Uber, the ride-hailing service that he helped found in 2009 and that he built into a transportation colossus, after a shareholder revolt made it untenable for him to stay on at the company. Kalanick’s exit came under pressure after hours of drama involving Uber’s investors, according to two people with knowledge of the situation, who asked to remain anonymous because the details are confidential. Earlier on Tuesday, five of Uber’s major investors demanded that the chief executive resign immediately. The ...

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First Published: Thu, June 22 2017. 01:26 IST