Uber Founder Travis Kalanick resigned as the chief executive officer of the cab-hailing service on Tuesday. His departure came following pressure from investors, two people with knowledge of the matter told The New York Times. Details of the development, however, are still confidential.
Five Uber investors had demanded Kalanick’s immediate resignation on Tuesday. This included venture capital firm Benchmark – one of the biggest shareholders in the transport company. In a letter, titled “Moving Uber Forward”, acquired by The New York Times, the investors demanded that Kalanick step down from the CEO’s post as the company was in need of new leadership.
The 40-year-old, who had founded the cab-hailing firm in 2009, will remain on Uber’s board of directors. “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 with another fight,” Kalanick said in a statement after resigning.
Kalanick had been on indefinite leave since June 13.