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Uber co-founder Travis Kalanick steps down from board

Uber has announced the resignation of its co-founder, Travis Kalanick from the company’s board effective December 31, 2019, to focus on his new business and philanthropic endeavors.

Kalanick, 43, was the firm’s second Chief Executive Officer (CEO), who served for six-and-a-half years until 2017 when scandals rocked his leadership and was forced out but retained his position on the board.

Uber CEO, Dara Khosrowshahi said, “Very few entrepreneurs have built something as profound as Travis Kalanick did with Uber. I’m enormously grateful for Travis’ vision and tenacity while building Uber, and for his expertise as a board member. Everyone at Uber wishes him all the best.”

Mr Kalanick recently sold off almost 90 per cent of his shares in the company, earning about $2.5 billion.

“Uber has been a part of my life for the past 10 years. At the close of the decade, and with the company now public, it seems like the right moment for me to focus on my current business and philanthropic pursuits,” Kalanick said.

Mr Kalanick currently heads up City Storage Systems. The Los Angeles-based start-up buys up land and establishes kitchens for use by delivery-only restaurants, which operate via apps including Uber Eats.

Kalanick added, “I’m proud of all that Uber has achieved, and I will continue to cheer for its future from the sidelines. I want to thank the board, Dara and the entire Uber team for everything they have done to further the Uber mission.”

“On behalf of the entire Board, I wish him the best of luck with his new endeavors,” said Ron Sugar, independent Chairperson of the Board.

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