This was long time coming! Here are some quick recent developments:
- UBER has had a rocky year, and has been in the news far too many times for all the wrong reasons recently (including allegations of sexual harassment and misconduct, as well as repeated complaints that it has mistreated or underpaid its drivers).
- UBER has been seeing declining profits!
- Kalanick went on leave earlier this month.
- Kalanick reportedly handed in his resignation notice a matter of hours after five of the company's major investors wrote to him demanding that he step aside.
- In a letter titled "Moving Uber Forward" the investors stated that the company needed a change in leadership and requested Kalanick’s immediate departure.
- Kalanick will apparently remain on Uber's board of directors.