June 21, 2017

NEED A LYFT? Uber CEO Kalanick Quits as Investors Revolt Over Scandals.

Uber Technologies Inc.’s co-founder and chief executive, Travis Kalanick, has resigned after a group of investors pressured him to step down following a bruising six months of scandal and setbacks, marking a stunning turnabout for one of Silicon Valley’s highest-flying startups.

Mr. Kalanick, 40 years old, handed in his resignation Tuesday, a spokesman said. Several investors pushed Mr. Kalanick to resign, people familiar with the matter said, to help turn around the company as it works to battle allegations that it has a workplace permissive of sexual harassment and sexism.

Uber has no replacement for Mr. Kalanick and is running without financial and operating chiefs and other key executives after several recent departures, including one of the CEO’s top deputies who was pushed out last week by the board.

Given the urgent need to fix Uber’s toxic corporate culture, Kalanick’s resignation was perhaps too long in coming.

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