After years of fighting, and a grand battle over the last 12 months, Uber founder and CEO Travis Kalanick has resigned. He and his company have been embroiled in a fight over sexual harassment claims, misleading regulators, and a generally “toxic” culture that lacks restraint. Kalanick recently lost his mother in a tragic accident and was on indefinite leave. His investors, who have invested the most money ever in a Silicon Valley private startup, reportedly turned against him and put Kalanick under pressure to step down. He has acquiesced to their wishes, resigning his role as CEO, but will remain on the board.
OxWFD: Things at Uber had gotten so out of hand under Kalanick that it is hard to blame the investors for wanting a change. Hopefully this will turn out best for everyone.
Source: Financial Times