Uber CEO resigns under pressure from investors
DETROIT — Travis Kalanick, the combative and troubled CEO of ride-hailing giant Uber, resigned under pressure from investors.
The company’s board confirmed the move early today, saying in a statement that Kalanick is taking time to heal from the death of his mother in a boating accident “while giving the company room to fully embrace this new chapter in Uber’s history.” He will remain on the Uber Technologies board.
The move comes at a pivotal time for the largest ride-hailing company. After eight years of phenomenal growth by upending the taxi business, Uber had reached a point where the freewheeling culture that created the company had become an albatross that threatened to kill it.
In a statement, the 40-year-old co-founder said his resignation would help Uber go back to building “rather than be distracted with another fight,” an apparent reference to efforts on the board to oust him.
