Uber CEO resigned under the pressure of Uber’s major investors

Uber CEO, Travis Kalanick, just resigned from his post under the pressure of Uber’s major investors.

According to New York Times, Uber’s major investors demanded that the CEO step down. The investors included one of Uber’s biggest shareholders, the VC firm Benchmark.

Over the year, Uber faced numerous scandals, including sexual harassments and discriminations. Uber has fired over 20 people after a thorough review of sexual harassment allegations and other complaints. Over 10 high-level executives left the company in the past few months. Uber has recently hired a Chief Brand Officer and a SVP of Leadership and Strategy to revamp the corporate culture.

Last week, Kalanick took a leave of absence to reflect on his leadership. “For Uber 2.0 to succeed there is nothing more important than dedicating my time to building out the leadership team,” he wrote in a previous statement. “But if we are going to work on Uber 2.0, I also need to work on Travis 2.0 to become the leader that this company needs and that you deserve.”

However, Kalanick decided to step down after hours of discussions with investors.

“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,” Kalanick said in a statement.

Uber is now a company without a CEO, COO, CFO, CMO and Head of Engineering.

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