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.
Low-value imports are losing their duty-free status in the U.S. this week as part of President Donald Trump's agenda for making the nation less dependent on foreign goods. A widely used customs exemption for international shipments worth $800 or less is set to end starting on Friday. Trump already ended the “de minimis” rule for inexpensive items sent from China and Hong Kong, but having to pay import taxes on small parcels from everywhere else likely will be a big change for some small businesses and online shoppers. Purchases that previously entered the U.S. without needing to clear customs will be subject to the origin country’s tariff rate, which can range from 10% to 50%.
Southwest Airlines will soon require plus-size travelers to pay for an extra seat in advance if they can't fit within the armrests of one seat. This change is part of several updates the airline is making. The new rule starts on Jan. 27, the same day Southwest begins assigning seats. Currently, plus-size passengers can pay for an extra seat in advance and later get a refund, or request a free extra seat at the airport. Under the new policy, refunds are still possible but not guaranteed. Southwest said in a statement it is updating policies to prepare for assigned seating next year.
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