Former Uber CEO Kalanick severs ties with ride-hailing giant

  • 📰 YahooNews
  • ⏱ Reading Time:
  • 73 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 32%
  • Publisher: 59%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

Travis Kalanick, who built Uber into a ride-hailing giant only to be ousted as CEO over the company's sexist “bro” culture, is cashing out. Kalanick disclosed Tuesday that he has sold off all his Uber stock — estimated at more than $2.5 billion — and is resigning from the board of directors, severing

NEW YORK — Travis Kalanick, who built Uber into a ride-hailing giant only to be ousted as CEO over the company's sexist “bro” culture, is cashing out.

Uber, based in San Francisco, transformed the way people get around and the way they make a living, too, turbocharging the gig economy and undermining the taxi industry. Its nearly 4 million drivers around the globe have logged 15 billion trips since 2010, when Kalanick and Garrett Camp came up with the idea of hailing a ride from a smartphone after a trip to Paris when they couldn't find a taxi.

A former Uber engineer, Susan Fowler, leveled sexual harassment and sexism allegations in a 2017 blog post, saying a boss — not Kalanick — had propositioned her and higher-ups had ignored her complaints. Kalanick called the accusations"abhorrent" and hired former U.S. Attorney General Eric Holder to investigate. Holder recommended reducing Kalanick's responsibilities.

During Kalanick's tenure, The New York Times revealed that Uber used a phony version of its app to thwart authorities in cities where it was operating illegally. Uber's software identified regulators who were posing as riders and blocked access to them. The U.S. Justice Department is investigating. Tesla founder Elon Musk has had too loose a grip on his Twitter habit and has been fined by the Securities and Exchange Commission for misleading investors with a tweet. He was also sued for defamation, but ultimately cleared, for going on Twitter and calling a British cave explorer “pedo guy" — short for “pedophile.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 380. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Former Uber CEO Kalanick to resign from company's boardNew York (AP) — Former Uber CEO Travis Kalanick will resign from the board next week, effectively severing ties with the ride-hailing company he co-founded a decade ago. Uber turbocharged... I use Lyft and couldn't be happier about it. Uber is a really shitty company with an even worse culture. Why is it the liberal media all run the same articles only a few mins apart? After he cashing out his shares of the company. He will be laughing all the way to the bank. 😉😂
Source: AP - 🏆 728. / 51 Read more »

Former Uber CEO Travis Kalanick leaving the company's board of directorsUber says that Travis Kalanick, its former CEO, will step down from the company’s board of directors effective Dec. 31. Add it to the list! QAnon
Source: NBCNews - 🏆 10. / 86 Read more »

Uber co-founder Travis Kalanick will leave the company’s boardThe announcement marked a final exit for the tech entrepreneur who helped launch the rideshare start up 10 years ago and grew it into a Silicon Valley giant. About Pete Buttigieg’s wine cave dinner? I was there. MayorPete Millionaire former Republican Elizabeth Warren has NO business acting all high and mighty.
Source: washingtonpost - 🏆 95. / 72 Read more »

Travis Kalanick cuts last ties to Uber, will resign from company's boardThe departure does not come as a surprise as Kalanick has sold more than more than 90% of his shares -- worth about $2.5 billion. They're still a deeply shitty company.
Source: latimes - 🏆 11. / 82 Read more »