Today, it was reported that Travis Kalanick stepped down as CEO of ride-hailing service Uber. According to reports, Mr. Kalanick was beeing forced to step down from his post of CEO after encountering sedition from investors.
However, for the time being, he is still on the Board of Directors.Back in 2009, Travis joined the company and had been offering his services and hard work to make the company a global juggernaut in today’s world and the company is now worth $70 billion.
The company Executives have been under a lot of criticism due to ignorance of corporate misbehavior and sexual harassment cases at Uber.
Almost 20 people have been fired or resigned including the important positions such as Chief Financial Officer and Chief Operating Officer.
Back in February, the problems for the company started, when an engineer, Susan Fowler, proclaimed that she was repeatedly harassed while she works with the company. But, the human resource department tried to fix the issues.
After Susan publicized her case, plenty of more case were also found and reported their complaints against the company.Additionally Uber was also facing intellectual property issues with Wayne, a self-driving car company working under Alphabet.
The company is also under a federal inquiry for using a software tool to bypass law enforcement.Moreover, Waymon, a self-driving company operating under Alphabet, is also having a dispute over intellectual property.
The company is also facing federal inquiry for using a software tool to avoid law enforcement.Major investors sent the letter to Travis at Uber, who demands that he should resign from his post and wrote that the company need change in leadership.
After conferring with board members and a long meeting with the investors, Travis agreed to resign. He said:
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 by another fight.