Uber's rocky year: Travis Kalanick's resignation is just the latest thing Uber co-founder Travis Kalanick resigned as chief executive of the ride-hailing giant Wednesday, pushed out by investors just a week after he announced he was going on an indefinite leave of absence. The San Francisco startup, valued at near $70 billion, has been rocked this year by allegations of a corrosive culture that allowed sexual harassment and other bad behavior to go unchecked for years. Uber drivers have their say about Kalanick's resignation Column: With Travis Kalanick out, we'll see the real value of Uber -- and it won't be pretty Column: With Travis Kalanick out, we'll see the real value of Uber -- and it won't be pretty Facing mounting investor pressure brought on by a torrent of scandals, Travis Kalanick, co-founder and chief executive of ride-hailing company Uber, resigned -- just a week into a leave of absence meant to quell concerns about his management style. The New York Times reported that five of Uber's major investors demanded Kalanick's immediate resignation because the company needed a change in leadership. Kalanick reached his decision to resign after hours of talks with some of the investors.
Uber has been rocked by a steady stream of scandals and negative publicity in recent years, including revelations of questionable spy programs, a high-stakes technology lawsuit, claims of sexual harassment and discrimination and embarrassing leaks about executive conduct. The PR disasters culminated in CEO Travis Kalanick taking an indefinite leave of absence this week and promises of bold reform that largely ignored the ride-hailing company's strained relationship with drivers. Here is a timeline of some of the most consequential controversies. Uber CEO Travis Kalanick faced backlash for a sexist joke about his increasing desirability, telling an Esquire reporter: "We call that Boob-er." Uber faced accusations that it booked thousands of fake rides from its competitor Lyft in an effort to cut into its profits and services.
Uber CEO Travis Kalanick resigned late Tuesday night from the company he cofounded in 2009. While he'll remain on the board of directors, Kalanick's departure comes after months, if not years, of reports of a toxic workplace culture, cutthroat business tactics, and the occasional public embarrassment. It's not clear who will replace Kalanick. But what is clear is that this person will have a lot to correct. Here's a timeline of many, many upheavals that led the $69-billion startup to this crisis point.
Uber's culture problems appear far from solved. Board member David Bonderman resigned Tuesday after making sexist comment at a meeting that took place a day after the release of a report into allegations of a hostile work environment at Uber. CEO Travis Kalanick is on an indefinite leave of absence. When he returns, he'll likely have a completely new management team. SAN FRANCISCO -- Uber now has 47 detailed recommendations from an exhaustive internal investigation on how to overhaul its company culture, from making its board more independent to keeping records of human resources complaints.