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Uber CEO Kalanick Relinquishes Power After Investor Mutiny

  • Five investors said to have called for his resignation
  • His departure comes after a series of self-inflicted scandals
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Uber CEO Kalanick Resigns Under Investor Pressure

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Travis Kalanick has resigned from his job leading Uber Technologies Inc., giving up his effort to hold onto power as a torrent of self-inflicted scandals enveloped him and the global ride-hailing leviathan he co-founded.

Pressure from investors, who’ve poured more than $15 billion into a company that has burned through billions, ultimately did what the board could, or would, not: It convinced the 40-year-old chief executive officer to step aside. Five of Uber’s major investors, including Fidelity Investments and Benchmark, asked Kalanick to step aside in a letter to him titled “Moving Uber Forward,” according to people familiar with the matter.