Uber CEO Travis Kalanick has resigned in response to demands from key investors for a change in leadership, Recode has confirmed.
It’s about time.
Kalanick had become a giant liability to the car-hailing company for a growing number of reasons, from sketchy business practices to troubling lawsuits to a basic management situation that was akin to really toxic goat rodeo.
Thus, he had to go, even though some sources said he had the voting power to stay.
But big investors also have leverage and a big enough group of them joined to use it.