Uber’s Travis Kalanick resigns as CEO amid controversies

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Uber’s embattled CEO, Travis Kalanick has resigned from his position in the cab-hailing service due to increasing pressure from investors as well as amid mounting controversies against the company.

Uber’s investors, including venture capital firm Benchmark, demanded the Kalanick resign from the post of CEO. The investors cited a change in leadership in the company was needed to take Uber forward. Uber had recently come under fire as it faces sexual harassment lawsuits filed by former female employees of the company.

Kalanick will remain on the company’s board after resignation while a new CEO will be announced shortly to signal Uber’s shift in leadership. Kalanick had earlier stated that he would be taking time away from Uber in an effort to reduce the implications to the company’s operations. The former Uber CEO’s resignation comes for the same reason.