Uber founder & CEO resigns after shareholder revolt

Travis Kalanick stepped down Tuesday as chief executive of Uber, the ride-hailing service that he helped found in 2009 and that he built into a transportation colossus, after a shareholder revolt made it untenable for him to stay on at the company.

Earlier on Tuesday, five of Uber’s major investors demanded that the chief executive resign immediately.

Now its up to them to prove that the cancer that riddled it is truly gone. Have Uber gone into remission with this and  20+ other high profile sackings or is the culture so engrained there’s no hope for recovery?

Time will tell.

Source: Uber Founder Travis Kalanick Resigns as C.E.O. – The New York Times

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