Uber CEO resigns, the company bereft of COO and CFO too

The Dollar Business Bureau

Travis Kalanick, the co-founder and CEO of Uber resigned on Tuesday. Kalanick had helped to form the company in 2009. Uber became a household name as a cab riding service in many countries including India.

The CEO stepped down after facing pressure from the shareholders, who made it untenable for him to continue. Five of Uber’s major investors including the capital firm Benchmark, had insisted that Kalanick resign after months of raging controversies surrounding the people at the helm. Uber’s top directors were riddled with accusations related to sexual harassment, discrimination, dealing with law enforcement and even with the company’s partners.

In a mail to the employees of Uber, Kalanick said, ‘I love Uber more than anything in the world and at this difficult moment in my personal life I have accepted the investors request to step aside so that Uber can go back to building rather than be distracted with another fight.’

Uber Board in a statement said that Mr. Kalanick had “always put Uber first” and that his stepping down as chief executive would give the company “room to fully embrace this new chapter in Uber’s history.”

Travis Kalanick will however continue to remain as one of the Directors of the Board.

India is the second largest market for Uber after the company exited China. Uber India's operations are likely to bear the brunt of the top-management exits, as Emil Michael, senior vice president of business and Eric Alexander who was heading the Asia-Pacific business, played an active role in the company's Indian operations. Both the executives quit the company before Kalanick.