Uber’s Chief Executive Officer Travis Kalanick has officially resigned due to embarked pressure from investors to wipe out toxic corporate culture and bad reputation about the company.
Kalanick previously announced indefinite leave a week before, after the release of Uber’s workplace report by US attorney general Eric Holder in which he identified problems and unethical behaviors in Uber. Eric unveiled harassment, discrimination, unethical business tactics and filthy workplace culture in his report.
Kalanick’s resignation was announced on late Tuesday, “I love Uber more than anything else, a this difficult time I have acknowledged investors interest to step aside and let the organization regain its momentum rather than indulging in another fight” said Kalanick in a statement.
Uber borad of directors admired the bold decision and marked it as real devotion and love for Uber.
However, Kalanick would remain on the board with large voting stake in the company, Kalanick was behind the Uber as a driving force which made it possible for Uber’s global expansion.
Investors were not satisfied and became impatient with his self-assertive management style which was affecting the overall company’s reputation.
According to New York Times, investors pressurized Kalanick to leave Uber as CEO and let the company change its leadership immediately.
Uber not only affected the local transport systems in various countries, but also the company is investing heavily in self-driving vehicles technology. The company has faced dozens of law suits including the theft of technology by Google.