Uber CEO Travis Kalanick Resigns Under Investor Pressure

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monkeymagick

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Reuter reports the CEO for Uber and co-founder, Travis Kalanick has resigned due to pushback from investors over his leadership. During the recent weeks, the company was under scrutiny from facing rape allegations among workers and firing 20 employees amid investigation into its workplace culture. The report comes in a week after chief business officer, Emil Michael's resignation and reports of Kalanick contemplating to take time away from the company. Investors seek to get the company back on track towards "building rather than be distracted with another fight," Kalanick said earlier this morning.

Kalanick, 40, has faced increased scrutiny in recent weeks following an investigation into the culture and workplace practices at a company he helped start in 2009 and is now the world's most highly valued startup.
 
Well they can't do a worse job than he did recently.

Now he just gets to do nothing and enjoy his share holdings. I'd expect him to start selling them off privately now as it's a lot more acceptable for an outsider to do it than the CEO.
 
He needed to go, his public image and leadership drove and kept Uber in the shit too many times.
 
Uvaman2 said:
This smells like cleaning up before going public.
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SighTurtle said:
He needed to go, his public image and leadership drove and kept Uber in the shit too many times.
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vegeta535 said:
Wonder how much he walked away when he was "Forced" to resign.
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hescominsoon said:
Uber is on it's way down as it has been fully converged and the SJW's are infesting that company.
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A few things.

1. He's the founder. He's gonna have an axe to grind after having been forced out of the company that he made, even if he gets golden parachute exit. It's not the same when you give up your baby prematurely, especially for the try-hard Kalanick who's known for that "win at any cost" mantra.
2. hiscomingsoon, don't give a convenient scapegoat for Uber. That company's a ruthless backstabbing establishment that wouldn't bet an eye to cheat its contractors and customers alike. Remember the beef Tim Cook had with Travis over geofencing and collection of App userdata without permission? So what if you got shit with SJW to spew, that's nothing when compared to what Uber did.
3. We will have to see if Uber can get anywhere close to 50 bil when it goes public. The Saudis who poured 20 odd billions into the company won't be pleased if the IPO can't deliver.
 
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