Uber chief executive Travis Kalanick has resigned, capping a series of controversies that have rocked the world’s largest privately backed start-up.
The company confirmed Mr Kalanick’s departure from the top executive’s role on Tuesday, after the New York Times reported major backers including Benchmark Capital demanded he resign. Mr Kalanick will remain on the board of directors, the newspaper said.
While Uber has become the world’s most valuable start-up, it has been dogged by drama including allegations of sexual harassment and the use of software to bypass regulators.
The resignation of the man who founded Uber in 2009 comes after a series of controversies shone a light on problems with the famously aggressive start-up’s culture and governance.
As Uber’s public face, Mr Kalanick has embodied its success. Earlier this month, he told staff of plans for a leave of absence, handing the running of the company over to a management committee. It followed the sudden death of his mother in a boating accident.
In a statement reported by the New York Times, Kalanick said: “I love Uber more than anything in the world and at this difficult moment in my personal life I have accepted the investors' request to step aside so that Uber can go back to building rather than be distracted with another fight."Despite recent turmoil, Uber’s business is growing. Revenue increased to $3.4bn (£2.7bn) in the first quarter, while losses narrowed - though they remain substantial at $708m.
The company's board said: "Travis has always put Uber first. This is a bold decision and a sign of his devotion and love for Uber.
"By stepping away, he's taking the time to heal from his personal tragedy while giving the company room to fully embrace this new chapter in Uber's history. We look forward to continuing to serve with him on the board."
-Telegraph