Uber CEO Travis Kalanick Resigns Under Pressure From Investors

Uber CEO and founder Travis Kalanick has resigned after a series of scandals that rocked the ride-hailing company.

Kalanick was forced to step aside following a letter from the company’s investors demanding him to leave. After some long discussions with some of the investors, Kalanick agreed to step down from his role as chief executive. He will remain on the board.

“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,” Kalanick said in a statement, according to the New York Times.

The change in leadership comes after months of turbulence in the world’s largest technology startup, dealing with allegations of sexual harassment and discrimination, an intellectual property lawsuit from Google’s Waymo, a criminal probe for one of Uber’s software tools and Kalanick himself caught on camera arguing with an Uber driver over fare charges.

Last week Kalanick said that he would take an indefinite leave of absence from Uber but some of the shareholders apparently didn’t think that this was enough.