Travis Kalanick: Uber’s former CEO to resign from company board

‘It seems like the right moment for me to focus on my current business and philanthropic pursuits,’ says billionaire businessman

Kalanick, who co-founded the tech giant ten years ago, said he would now focus his energies on new businesses and philanthropy (Getty)

The ex-chief executive of Uber Travis Kalanick will step down from the board of the ride-sharing app next week.

Mr Kalanick, who co-founded the tech giant ten years ago, said he would now focus his energies on new businesses and philanthropy.

The 43-year-old billionaire helped shape Uber into becoming the most valuable startup in the world which has logged 15 billion trips since 2010.

Mr Kalanick resigned as Uber’s CEO in June 2017 after a slew of scandals about sexual harassment, gender discrimination and a machismo culture at the firm, but continued to stay on Uber’s board.

The Los Angeles-born businessman recently sold more than $2.5 billion worth of shares in the company which is over 90 per cent of his holdings.

“Uber has been a part of my life for the past ten years,” Mr Kalanick said in a statement. “At the close of the decade, and with the company now public, it seems like the right moment for me to focus on my current business and philanthropic pursuits ... I will continue to cheer for its future from the sidelines.”

Since leaving Uber, he has launched a new startup called CloudKitchens which rents out space to restaurants running delivery firms.

While Uber has yet to decide on someone to replace Mr Kalanick’s board position, a spokesperson for the firm told CNBC they have “strong director candidates to put forward at the appropriate time.”

Mr Kalanick was replaced with Dara Khosrowshahi, a travel industry exec who was formerly CEO of Expedia Group, when he stepped down as CEO.