Uber’s founder Travis Kalanick to resign from board year-end

Founder and Former chief executive of American multinational ride-hailing firm Uber Technologies Travis Kalanick is set to resign from the board of directors by the end of 2019, Reuters reported on Tuesday.

Kalanick stated that he want to direct his attention to his business and philanthropic pursuits.

“Very few entrepreneurs have built something as profound as Travis Kalanick did with Uber. I’m enormously grateful for Travis’ vision and tenacity while building Uber, and for his expertise as a board member,” Uber’s chief executive Dara Khosrowshahi said.

Under pressure from investors followed a group of setbacks, Kalanick stepped down from CEO position in June 2017.

He sold over $2.5 billion shares in Uber since the launch of the company’s IPO in May.

Source: Reuters