REPORT | Uber Chief steps down during unrest

There are reports on Wednesday afternoon that Uber chief executive Travis Kalanick has stepped down.

The New York Times reports his decision was a reaction to a shareholder revolt against the ride-sharing company, worth upwards of $50 billion according to Wikipedia.

Kalanick had already announced he was taking leave, but after several major investors demanded he quit, he decided to exit.


The New York Times said the investors, who made their demand in a letter, include the venture capital firm Benchmark.

There have been calls for the company, which operates throughout Australia, to tone down its management style and to overhaul its workplace culture, which has seen it attract charges of harassment and discrimination.

Following his leave, Kalanick had put day-to-day leadership in the hands of several employees who had reported directly to him. With Kalanick’s resignation, Uber is now missing a CEO, COO, CFO, CMO and a host of other critical high-level positions following months of seemingly endless executive departures according to Tech Crunch.