This ride couldn’t last forever.
After months of being plagued by scandal and criticism, Uber CEO Travis Kalanick resigned from the company on Tuesday under pressure from investors.
The New York Times reports that five of the ride-sharing company’s major investors demanded that Kalanick step down immediately, citing a change in leadership was necessary.
The 40-year-old co-founded Uber in 2009 and was essential in building it to the transportation titan it is today — but his leadership skills were called into question after a growing number of workplace culture scandals.
Kalanick took an undetermined leave of absence last week amid the company’s controversies, including a number of sexual harassment allegations and video footage of Kalanick berating a bankrupt Uber driver in March.
Investors had enough, and reportedly made their demand for Kalanick to immediately step down in a letter titled “Moving Uber Forward.” Ouch!
The former CEO accepted the investors’ request, noting he is willing to do what is best for the company. He said in a deflated statement:
“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.”
Sounds like it’s for the best.
[Image via WENN.]