This archive report was first published on 24 December 2019.
Uber's tumultuous past has finally caught up with its co-founder, as Travis Kalanick, 43, has severed his last tie with the company by stepping down from the board of directors.
Since its inception in 2009 with co-founder Garrett Camp, Uber has grown from a small start-up to a behemoth that defined the ride-hailing industry. The company went public in May 2019, but has since struggled on the public market.
As reported earlier, the board forced Mr. Kalanick to resign as chief executive in 2017, following a series of high-profile incidents, including privacy concerns, complaints of discrimination, and allegations of sexual harassment.
“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,” Mr. Kalanick said in a statement on Tuesday.
Mr. Kalanick has been steadily selling his shares in the company, with over $2 billion in sales to date. He will complete the sale of his remaining stock on Thursday, a spokeswoman confirmed.
Currently, Mr. Kalanick runs a venture fund and a start-up that operates 'dark kitchens,' cooking facilities that prepare food for delivery.
Published on December 24, 2019.
