Photo by Axelle/Bauer-Griffin/FilmMagic
Uber co-founder Travis Kalanick is resigning from the company’s board of directors. The news comes after Kalanick sold more than $2.5 billion in stock — more than 90 percent of his stake — when the lock-up on his shares expired. By exiting the board, he has essentially cut himself entirely off from the company he helped found.
Kalanick’s last day will be December 31, 2019, after which time he’ll focus on his “new business and philanthropic endeavors.” This is likely a reference to his new startup, CloudKitchens, which he has bragged will be “bigger than Uber,” according to reporting by The Information.
“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...
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