June 23, 2017

Uber Tech inc CEO Travis Kalanick,resigned on Tuesday Under pressure from investors.

by Prince Chandran

 The resignation of Uber CEO  Travis Kalanick has hit the Silicon Valley by storm. Acc to some reports the resignation of  Travis Kalanick was demanded by a major group of investors from Uber. He was under pressure from a very long time from the investor asking him to resign.

Kalanick’s departure caps a tumultuous period for the largest ride services in the world and revolutionized the taxi services. The resignation leaves the Uber board of directors  into huge problem of finding a dynamic leader who could also help heal Uber from the bruising six months.

“The person who still best personifies Uber’s potential is the person who left Tuesday night” said Bradley Tusk, an Uber investor and he also added that ” But it’s not like he really could stay without it being brutally bad for the company”

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“I love Uber more than anything in the world and at this difficult moment in my personal life I have accepted the investors’ request to step aside so that Uber can go back to building rather than be distracted with another fight,” Kalanick said in a statement to the Times.

Uber’s troubles this year have included wide spread allegations of sexual harassment, , a major lawsuit  from Google’s Waymo self-driving car unit that threatens Uber’s self-driving car ambitions, an executive obtaining the medical records of a woman who was raped by a driver in India, and more. The company recently fired 20 employees  as a result of a probe into its work culture.

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After Kalanick resignation more than 1000 Uber employees have signed a letter demanding the return of their CEO and handed it to the startup’s board of director.  The employees who have signed the petition include almost 10% of Ubers non-driver  workforce.

“Travis has always put Uber first,This is a bold decision and a sign of his devotion and love for Uber. By stepping away, he’s taking the time to heal from his personal tragedy while giving the company room to fully embrace this new chapter in Uber’s history. We look forward to continuing to serve with him on the board.” company’s board said in a statement.

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