Business & Finance

Uber founder to leave board of directors

Uber co-founder and former CEO Travis Kalanick will no longer sit on the company’s board of directors.

Ali Taghva Montreal, QC
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Uber co-founder and former CEO will no longer sit on the company’s board of directors.

According to a statement by Uber Technologies, Travis Kalanick will leave his position by the year-end, ending a tumultuous and controversial period for the car-sharing behemoth.

Kalanick helped found Uber in 2009 but stepped down in June 2017 under pressure from investors and due to rapidly escalating scandals.

Since his exit, employees have also accused the former CEO of creating a toxic work culture that encouraged sexual harassment and bullying.

Kalanick has sold off more than $2.5 billion worth of shares since Uber went public in May, and has roughly 5.83 million shares left, which are valued currently at roughly $170 million.

According to Tech Crunch, Kalanick sold around $383 million in shares last week and reduced his overall stake to under 10 percent.

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