#Uber loser #TravisKalanick forced out by angry shareholders

Travis Kalanick stepped down Tuesday as chief executive of Uber after a shareholder revolt made it untenable for him to stay on at the the ride-hailing service, the New York Times reported late Tuesday.

Kalanick’s exit came under pressure after hours of drama involving Uber’s investors.

Earlier on Tuesday, five of Uber’s major investors demanded that the chief executive resign immediately. The investors included one of Uber’s biggest shareholders, the venture capital firm Benchmark, which has one of its partners, Bill Gurley, on Uber’s board.

Source: San Francisco Chronicle

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