Uber CEO Travis Kalanick resigns
On Tuesday, Uber founder Travis Kalanick resigned as CEO of the company, following a shareholder revolt.
Two people with knowledge of the situation told The New York Times that earlier in the day, five of Uber's biggest investors delivered a letter to Kalanick, calling on him to immediately step down so new leadership could take over. After talking with some of the investors, Kalanick agreed to resign, but he will stay on the company's board of directors. Uber has been dealing with allegations of sexual harassment at the company, lawsuits, and a federal inquiry into a tool it used to avoid law enforcement in places where Uber wasn't allowed to operate.
Last week, Kalanick, whose mother died in a boating accident in May, took an indefinite leave of absence. In a statement, Kalanick said he "loves 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." The company's board released its own statement, which said Kalanick "always put Uber first," and by stepping aside, he is giving Uber "room to fully embrace" a new chapter in its history.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Create an account with the same email registered to your subscription to unlock access.
Catherine Garcia is night editor for TheWeek.com. Her writing and reporting has appeared in Entertainment Weekly and EW.com, The New York Times, The Book of Jezebel, and other publications. A Southern California native, Catherine is a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.
-
Bird flu worries mount as virus found in milk, cows
Speed Read The FDA found traces of the virus in pasteurized grocery store milk
By Peter Weber, The Week US Published
-
Palazzo Durazzo Suites in Genoa: a palatial gem in northern Italy
The Week Recommends Live your Italian dream in this astonishing and recently restored palace in the heart of the city
By Nick Hendry Published
-
Today's political cartoons - April 25, 2024
Cartoons Thursday's cartoons - TikTok in the firing line, protests on campus, and more
By The Week US Published
-
Empty-nest boomers aren't selling their big homes
Speed Read Most Americans 60 and older do not intend to move, according to a recent survey
By Peter Weber, The Week US Published
-
Brazil accuses Musk of 'disinformation campaign'
Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
By Rafi Schwartz, The Week US Published
-
Disney board fends off Peltz infiltration bid
Speed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
By Rafi Schwartz, The Week US Published
-
Disney and DeSantis reach detente
Speed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
By Peter Weber, The Week US Published
-
Visa and Mastercard agree to lower swipe fees
Speed Read The companies will cap the fees they charge businesses when customers use their credit cards
By Peter Weber, The Week US Published
-
Reddit IPO values social media site at $6.4 billion
Speed Read The company makes its public debut on the New York Stock Exchange
By Peter Weber, The Week US Published
-
Housing costs: the root of US economic malaise?
speed read Many voters are troubled by the housing affordability crisis
By Peter Weber, The Week US Published
-
Feds cap credit card late fees at $8
speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
By Peter Weber, The Week US Published