Published On: Thu, Jun 22nd, 2017

Mr Travis Kalanick the founder of UBER resigns as CEO

Mr Travis Kalanick, the founder of UBER on Wednesday decided to step down as the CEO of the company. His decision has come as shock and has stunned around 12,000 employees that work under him. But he will still serve as one of the directors of the board as he still own the major share in the company.

Uber-CEO-Travis-Kalanick

Mr Kalanicks’s decision to step down has come after a constant pressure by firms biggest investors. Matt Cohler and Peter Fenton, the two partners of the Ubers biggest investor firm Benchmark, had confronted Mr Kalanick to resign. Mr Kalanick was in Chicago on tuesday to interview a candidate for the position of COO when the two partners decided to confront him. They flew out to Chicago with a letter signed by five major share holders which stated an immediate resign by the former after a series of scandals circulated regarding the company.

Uber has been Mr Kalanick’s life. Stepping down has come hard at him but with the investors much concerned about their money he decided to call it quits. mR Kalanick has been the most celebrated star in the Silicon Valley for his win at all cost attitude.

“I never thought I would be writing this. As you all know I love UBER more than anything in the world, but at this difficult moment in my personal life, I have accepted a group of investors request to step aside.” He stated in an email he drafted for him employees on Tuesday miles away from the UBER headquarters in San Francisco.

 

Azam Sait

Photo Courtesy : Google/ images may be subject to copyright

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Mr Travis Kalanick the founder of UBER resigns as CEO