Uber founder Travis Kalanick resigns as CEO: NYT

Uber Technologies Chief Executive Travis Kalanick, co-founder of one of the most influential technology companies of its generation, resigns under mounting pressure from investors over his leadership.
Uber CEO Travis Kalanick speaks to students during an interaction at the Indian Institute of Technology (IIT) campus in Mumbai, India, on Jan 19, 2016.
Uber CEO Travis Kalanick speaks to students during an interaction at the Indian Institute of Technology (IIT) campus in Mumbai, India, on Jan 19, 2016.PHOTO: REUTERS

NEW YORK - Uber founder Travis Kalanick has resigned as chief executive officer after shareholders staged a revolt, The New York Times has reported.

Mr Kalanick will remain on Uber's board of directors, it said.

He stepped down Tuesday as chief executive of the ride-hailing service that he helped found in 2009 after a shareholder revolt made it untenable for him to stay on at the company.

The exit came under pressure after hours of drama involving Uber's investors, according to two people with knowledge of the situation, who asked to remain anonymous because the details are confidential, The New York Times said.

Earlier on Tuesday, five of Uber's major investors demanded that the chief executive resign immediately. The investors included one of Uber's biggest shareholders, the venture capital firm Benchmark, which has one of its partners, Bill Gurley, on Uber's board. The investors made their demand for Mr Kalanick to resign in a letter delivered to the chief executive while he was in Chicago, said the people with knowledge of the situation.

Mr Kalanick, 40, consulted with at least one Uber board member and after hours of discussions with some of the investors, he agreed to step down, the Times reported.