Uber CEO, Founder Travis Kalanick Resigns

Uber co-founder and chief executive officer, Travis Kalanick, has resigned.

Travis Kalanick, under pressure from his top investors, announced his departure from the company on Tuesday night. The decision to step down comes as a surprise considering last week Kalanick said he was stepping away from his position as CEO temporarily to mourn his mother, who died in a boating accident and to work on his leadership skills.

Now, investors reportedly do not want him to return. In a statement, Uber’s board says:

“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.”

Kalanick will continue to stay on the board of directors. In a statement to employees, Kalanick repeats the sentiment in the board’s public statement.

“As you all know, I love Uber more than anything in the world, but at this difficult moment in my personal life, I have accepted a group of investors’ request to step aside, so that Uber can go back to building rather than be distracted with another fight. I will continue to serve on the board, and will be available in any and all ways to help Uber become everything we’ve dreamed it would be.”

Travis Kalanick Uber CEO
BEVERLY HILLS – FEB 28: Travis Kalanick at the 2016 Vanity Fair Oscar Party on February 28, 2016 in Beverly Hills, California (Joe Seer / Shutterstock.com)

Uber has been in a public relations crisis. The company’s former President Jeff Jones left the company then, Uber was thrown into a middle of a sexual harassment controversy, and many Uber customers deleted the app following the #DeleteUber campaign.

On Tuesday Uber announced a new set of initiatives to improve the driver experience including in-app tipping. It is important to note that Uber is a multi-billion dollar company worth approximately $70 billion dollars. But with the company’s CEO gone, the board of directors has an extensive list of positions they will need to fill including, CEO, chief operating officer, general counsel, senior vice president of engineering, chief marketing officer, and board chair.