Former Uber CEO, Travis Kalanick, has announced that he will no more be a member of the Uber board, detaching himself from all activities of the company. Entire 6% stake of Uber, approximately $3 bn, was sold by Kalanick over a period of time.
Crux of the Matter
Travis Kalanick, former Uber CEO, announced his departure from the company.
“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,” said Kalanick.
Kalanick will be replaced by Dara Khosrowshahi. He wished Kalanick and said, “I’m enormously grateful for Travis’ vision and tenacity,”.
Kalanick had faced hurdles in 2017 because of the allegations on Uber’s harsh workplace environment, especially for women.
Kalanick will direct his attention into his new venture, CloudKitchens, that aims at providing kitchen infrastructure to hotels and outlets.
Curiopedia
Travis Kalanick is an American billionaire businessman. He is the co-founder of Scour, a peer-to-peer file sharing application; Red Swoosh, a peer-to-peer content delivery network; and Uber, a transportation network company. Red Swoosh was sold to Akamai Technologies in 2007. Kalanick is the co-founder and former CEO of Uber, a position he held from 2010 to 2017. He resigned from Uber in 2017, after controversy over the company’s reported unethical culture, including allegations that he ignored reports of sexual harassment at the company. In the weeks leading up to a December 24th, 2019 announcement that he would resign his Board seat effective December 31, Kalanick sold off approximately 90% of his shares in Uber. Kalanick is ranked 238th on the Forbes 400 list of richest Americans, with a net worth of $3.1 billion. More Info
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