It’s hoped that one of the world’s largest start-up technology companies can finally get past its problems with corporate culture.
Late Tuesday night, Travis Kalanick gave word he would be stepping down as the CEO of Uber, a ride-sharing technology company he helped establish back in 2009.
The pressure came from five of Uber’s major investors that demanded his immediate resignation, following the announcement last week he would be taking an indefinite leave of absence and hand off management to a committee of executives.
While Kalanick’s tenure was instrumental in the advance of ride-sharing and implementing the technology that played a role in the movement, Uber has been plagued with a culture of sexual harassment within the company.
Those allegations came under his leadership.
There were also altercations with Uber drivers that involved Kalanick personally.
Uber is one of the most highly valued private companies in the world, with an estimated worth around $70 billion U.S., but it’s obvious the distractions of mismanagement have investors looking to right the ship.