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Uber Pares Back Digital Wallet Ambitions, Head of Unit Quits

   
Photographer: Victor J. Blue/Bloomberg

Uber Technologies Inc.’s financial services leader Peter Hazlehurst is calling it quits as the ride-hailing giant focuses on rides and food delivery, and ices plans to become a financial services company.

In an email to staff on Thursday, Uber Chief Executive Officer Dara Khosrowshahi said that Uber will “deprioritize” several of its finance-related projects, which have included credit cards, a digital wallet and instant payments for drivers. Khosrowshahi wrote in the email to staff reviewed by Bloomberg that in light of the change in direction at the company, “I understand Peter’s decision to pursue something more aligned with his passion and initial ambitions.”