Travis Kalanick, 40, has resigned as the chief executive of Uber, a company he co-founded.
Last week, Kalanick, with an estimated net worth of US$6.3 billion, as of March 2017, announced that he was going on an indefinite leave of absence following the death of his mother in a boating accident. But the move failed to defuse a growing crisis over his leadership and demands from investors that he should resign.
In a statement released late last night, Kalanick said, ‘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”.
In recent times, Uber has been hit by endless series of PR crises and an exodus of top executives .