The most valuable startup confirmed Travis Kalanick is no longer chief executive on Wednesday, but that he will stay as member of the board. The move is a "bold decision and a sign of his devotion" to Uber Technologies Inc., the San Francisco–based ride-hailing network operator said.
"Travis has always put Uber first... By stepping away, he’s taking the time to heal from his personal tragedy while giving the company room to fully embrace this new chapter in Uber’s history," the statement adds. The executive's parents had a boating accident this month, and his mother Bonnie lost her life. The company has been facing scrutiny over sexism allegations and investors exerted pressure over several other mishaps, including some that were centered on Kalanick.
