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Uber CEO Travis Kalanick Resigns Under Pressure From Investors

The embattled executive stepped down amid mounting criticism and corporate scandals.

Finance By

Uber’s CEO will need be picked up by the curb outside company headquarters.

Travis Kalanick resigned from his position Tuesday under insurmountable pressure from investors. The executive couldn’t overcome numerous controversies that shook the world’s largest technology startup.

Acquiescing to investors’ demands, Kalanick decided to quit to avoid another conflict, the New York Times reports. His daily responsibilities will be delegated to a committee of executives until a replacement is found. Kalanick will remain on Uber’s board of directors.

Five major backers of the company called for his resignation in a letter sent to the CEO in Chicago, where he was spending time on a leave of absence following the death of his mother.

After co-founding the company alongside Garrett Camp in 2009, Kalanick is credited with Uber’s meteoric rise that fundamentally changed transportation patterns in the 21st century.

Despite this, scandals have swirled around Uber. The company’s male-dominated culture sparked allegations of sexual harassment and discrimination. In addition to its secret “Greyball” program to skirt regulators, Uber was also criticized for the mishandling of an Indian rape case in 2014.

Read full story at New York Times