Uber CEO Travis Kalanick Resigns

Travis Kalanick, the beleaguered head of ride-sharing giant Uber, has stepped down as CEO amid a shareholder revolt. According to the New York Times, five of Uber’s major investors demanded that Kalanick resign via a letter, titled “Moving Uber Forward.” Kalanick will remain on the company’s board of directors. “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 by another fight,” Kalanick said in a statement. Kalanick’s aggressive leadership style was reflected in Uber’s workplace environment, which recently came under fire amid allegations of sexual harassment and discrimination.