The CEO of Uber has been given his marching orders from the company’s biggest shareholders.
Travis Kalanick reportedly hung up his car keys today after he was handed a letter from five major investors, urging him to step down from the on-demand ride service, reports New York Times.
“I love Uber more than anything in the world and at this difficult moment in my personal life I have accepted the investors’ request to step aside so that Uber can go back to building rather than be distracted with another fight,” Kalanick said in a statement.
While Kalanick will stay on the company's board of directors, the move is thought to now allow Uber the “room to fully embrace” a “new chapter”.
"Travis has always put Uber first. This is a bold decision and a sign of his devotion and love for Uber,” said Uber in a statement.
"By stepping away, he's taking the time to heal from his personal tragedy while giving the company room to fully embrace this new chapter in Uber's history.
“We look forward to continuing to serve with him on the board."
Uber has copped heat in recent times for allegations of company misconduct and a workplace culture of sexual harassment.
The move comes as Uber announced it would be rolling out a system where its drivers cold soon start accepting tips from customers.