- Title: Uber CEO was a 'distraction' - analyst
- Date: 21st June 2017
- Summary: LOS ANGELES, CALIFORNIA, UNITED STATES (FILE) (REUTERS) CLOSE-UP OF PHONE USING UBER APP
- Embargoed: 5th July 2017 11:06
- Keywords: Uber Kalanick resignation
- Location: VARIOUS
- City: VARIOUS
- Country: USA
- Topics: Company News Markets,Economic Events
- Reuters ID: LVA0016M7ZH59
- Aspect Ratio: 16:9
- Story Text:Uber Technologies Inc Chief Executive Travis Kalanick, co-founder of one of the most influential technology companies of its generation, resigned on Tuesday (June 20) under mounting pressure from investors over his leadership.
Kalanick's departure caps a tumultuous period for the world's largest ride-services company, which upended the taxi industry and transportation regulations globally with Kalanick at the helm.
The 40-year-old has faced increased scrutiny in recent weeks following an investigation into the culture and workplace practices at a company he helped start in 2009 and is now the world's most highly valued startup.
But it was a chorus of demands for changes at the top from some of Uber's biggest investors that ultimately forced Kalanick out, according to a source familiar with the matter.
Venture capital firm Benchmark, whose partner Bill Gurley is one of Uber's largest shareholders and sits on its board, as well as investors First Round Capital, Lowercase Capital, Menlo Ventures and Fidelity Investments, all pressed Kalanick to quit.
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