Uber Technologies Inc`s founder and former CEO Travis Kalanick will resign from its board of directors by the end of the year, the company said on Tuesday. Kalanick, who helped found Uber in 2009, stepped down from the company`s helm in June 2017 under pressure from investors after a string of setbacks.
Kalanick turned Uber into the world`s largest ride-services company that revolutionized the taxi industry and challenged transportation regulations worldwide. "Very few entrepreneurs have built something as profound as Travis Kalanick did with Uber. I`m enormously grateful for Travis` vision and tenacity while building Uber, and for his expertise as a board member," Uber Chief Executive Dara Khosrowshahi said in a statement.
Kalanick said in a statement that now Uber was a public company, he wanted to focus on his current business and philanthropic pursuits. He is currently working on a food delivery startup.
He has sold of more than $2.5 billion worth of shares since Uber went public in May, according to regulatory filings.