Travis Kalanick, Uber’s co-founder and CEO, has resigned. Following a tumultuous six months for the company, investors decided to pressure him out, penning a letter addressed to him asking him to step down. This comes on the heels of his indefinite leave of absence, taken to help him mourn the untimely death of his mother and further evolve his character.
Earlier this year, in response to Trump’s initial travel ban which blocked travel for people from seven Muslim majority countries and backed up airports in its wake, people retaliated against Uber for failing to disable their surge pricing to accommodate the sudden increase in ridership. Shortly thereafter, video surfaced of Kalanick berating a driver over various business practices; a sentiment widely expressed amongst drivers. The video went viral, forcing the former CEO to issue a public apology and plea for leadership aid, while also promising to review possible policy changes.
More recently, they have been under investigation by multiple law firms while battling sexual harassment allegations and attempting to redefine their culture - growing from an aggressive, blunt, and sometimes legally questionable approach to a more refined, employee responsive and accommodating company. Aside fro the internal investigations and battles that have been raging for months, the company is in a legal brawl with Google’s parent company, Alphabet Inc., over their self-driving car technology, which Alphabet claims was stolen from their own unit Waymo.
To make matters worse, revenue has been declining for over one year, totaling about three billion dollars according to the Wall Street Journal. The resignation of Kalanick leaves Uber without a CEO, CFO, or COO. In a statement, he expressed his love for the company and his hope for it to flourish.