Uber CEO Travis Kalanick resigns under investor pressure

Kalanick is said to have consulted with at least one of the company's board members and agreed to let go of his position after long talks with some of the investors.

Lawyer Ariel Inton of the Lawyers for Commuters Safety and Protection appealed to LTFRB chairman Martin Delgra to inquire into the business issues of Uber and how the resignation of Kalanick could affect its operation under the transportation network vehicle service (TNVS) program.

Uber promises more improvements over the course of the next six months.

Travis Kalanick is out as Uber CEO.

With no clear successor to Kalanick, Uber's focus now is the search for a new leader.

Between getting caught on video berating a driver, his deputy obtaining a rape victim's medical records in a possible attempt to discredit her, getting ridiculed after his "sex guide" for employees resurfaced, embroiling the company in a stolen tech dispute with Google, and generally overseeing an operation plagued with constant scandals and emblematic of everything wrong with Silicon Valley's dudebro-asshole culture, the question has always been: when will the investors at Uber grow a spine and fire founder and CEO bro Travis Kalanick?

That caught the board's attention and brought outside investigations that led to the firing of 20 people including some managers.

At the same time, Uber officials also announced that the company was adopting new policies to improve its workplace environment - including ones meant to help it fight sexual harassment and to change a corporate culture blamed for allowing workplace misconduct to flourish.

Kalanick faced increased scrutiny for a culture of sexism and rule-breaking at the company he helped start in 2009.

Uber "is the very definition of a toxic leadership culture" and Kalanick "set the tone", said Jason Hanold, chief executive officer and managing partner at human resources executive recruitment firm Hanold Associates.

Following the release of the damning Covington report, Kalanick said last week he would take a leave of absence to grieve for his mother, who died recently in a boating accident that also seriously injured his father, and to work on his leadership skills. Alexander argued they showed the woman had been assaulted but not raped, people who spoke to him said.

Even some of Kalanick's staunchest allies have found fault with how Uber has been run. But Uber's ownership and voting structure made it hard to oust him.

Silicon Valley just experienced a major shake-up.

"If Uber goes to the capital markets, investors are going to demand more control over the board - both for strategic and cultural reasons", Columbia Business School professor Evan Rawley noted in an email.

She repeated that position on Friday in an interview with Reuters by saying Kalanick's leave of absence was exclusively his decision.

Gurley, one of Kalanick's closest confidants, praised the CEO on Twitter following his resignation.

  • Salvatore Jensen