Former Uber CEO Travis Kalanick will resign from the board next week, effectively severing ties with the ride-hailing company he co-founded a decade ago.
Uber turbocharged the gig economy and since 2010 has logged 15 billion trips. Kalanick was ousted as CEO in the summer of 2017 with the company mired in numerous lawsuits.
The departure did not come as a surprise. Kalanick recently sold more than $2.5 billion worth of shares in the company, more than 90 percent of his holdings.
“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," Kalanick said in a prepared statement Tuesday. "I’m proud of all that Uber has achieved, and I will continue to cheer for its future from the sidelines."
Uber under Kalanick grew with incredible speed, but like a number of other tech startups, the company ran into trouble with a corporate culture that appeared at times to be reeling out of control.
A former Uber engineer, Susan Fowler, discloses sexual harassment and sexism claims in a blog post about her year at Uber. Fowler says her boss propositioned her and higher-ups ignored her complaints. Kalanick calls Fowler's accusations "abhorrent" and hires former U.S. Attorney General Eric Holder to investigate.
Days later, Waymo, a self-driving car company spun off from Google, sues Uber. Waymo alleges that Anthony Levandowski — a former top manager for Google's self-driving car project — stole pivotal technology from Google before leaving to run Uber's self-driving car division.
Then, The New York Times reveals that Uber used a phony version of its app to thwart authorities in cities where it was operating illegally. Uber's so-called Greyball software identified regulators who were posing as riders and blocked access to them. The U.S. Justice Department is investigating Uber's use of the Greyball software.
About 780,000 pressure washers sold at retailers like Home Depot are being recalled across the U.S. and Canada, due to a projectile hazard that has resulted in fractures and other injuries among some consumers.
President Donald Trump has fired one of two Democratic members of the U.S. Surface Transportation Board to break a 2-2 tie ahead of the board considering the largest railroad merger ever proposed.
Ford is recalling more than 355,000 of its pickup trucks across the U.S. because of an instrument panel display failure that’s resulted in critical information, like warning lights and vehicle speed, not showing up on the dashboard.
The Rev. Al Sharpton is set to lead a protest march on Wall Street to urge corporate America to resist the Trump administration’s campaign to roll back diversity, equity and inclusion initiatives. The New York civil rights leader will join clergy, labor and community leaders Thursday in a demonstration through Manhattan’s Financial District that’s timed with the anniversary of the Civil Rights-era March on Washington in 1963. Sharpton called DEI the “civil rights fight of our generation." He and other Black leaders have called for boycotting American retailers that scaled backed policies and programs aimed at bolstering diversity and reducing discrimination in their ranks.
