Read Why Uber founder “Travis Kalanick” resigns as CEO

Uber founder "Travis Kalanick" resigns as CEO
Uber founder "Travis Kalanick" resigns as CEO
Uber founder “Travis Kalanick” resigns as CEO

The embattled founder and CEO of Uber, Travis Kalanick reportedly stepped down on Tuesday after increasing pressure from shareholders over his leadership.

Kalanick’s departure caps a troubled period for the world’s largest ride-services company, which took the taxi industry and transportation regulations by storm on a global scale. 

According to The New York Times, Travis Kalanick was told in a memo by shareholders that he must leave immediately and that the company needs new leadership amid the ongoing struggles.

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The New York Post also reports that after speaking with a board member and investors Kalanick decided to step down from his position, However, he will still sit on the board of directors during meetings between top officials.

“I love Uber more than anything in the world and at this difficult moment in my personal life I have accepted the investors request to step aside so that Uber can go back to building rather than be distracted with another fight,” Kalanick said in a statement to the Times.

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Kalanick took a leave of absence last week after the company was hit by a number of scandals including sexual harassment accusations against employees and the disclosure of a company outing to a South Korean escort bar.

The same day he took his leave, board member David Bonderman resigned after joking a meeting that women talked too much.

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