Uber Technologies, Inc. has announced that Travis Kalanick will resign from the company’s Board of Directors, on 31 December, to focus on his new business endeavors.
“Very few entrepreneurs have built something as profound as Travis Kalanick did with Uber. I’m enormously grateful for Travis’ vision and tenacity while building Uber, and for his expertise as a board member. Everyone at Uber wishes him all the best,” said Dara Khosrowshahi, CEO.
“Uber has been a part of my life for the past 10 years. At the close of the decade, and with the company now public, it seems like the right moment for me to focus on my current business and philanthropic pursuits. I’m proud of all that Uber has achieved, and I will continue to cheer for its future from the sidelines. I want to thank the board, Dara and the entire Uber team for everything they have done to further the Uber mission,” Kalanick said.
“I want to thank Travis for his service as a director on the Board. His unique expertise, honed over 10 years building Uber from a scrappy startup into the global public company it is today, will be missed. On behalf of the entire Board, I wish him the best of luck with his new endeavors,” said Ron Sugar, independent Chairperson of the Board.
The controversial former CEO has cashed out on more than 90 percent of his shares with the ride-hailing firm in less than two months.
The sale of shares have totalled to more than $2.5billion in value of stock since Uber's post-IPO lockup period expired on 6 November.
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