Uber's chief executive Travis Kalanick has decided to go on leave, after a series of controversies as well as a personal tragedy due to a death in his family.
Mr Kalanick’s hard-driving style has for years defined the controversial transportation company, which has grown to a valuation of $68 billion while earning a reputation for breaking the rules and doing whatever it takes to achieve growth.
The decision came as Uber released a 13-page report drafted by Covington & Burling following allegations of sexual harassment at the company.
“Recent events have brought home for me that people are more important than work, and that I need to take some time off of the day-to-day to grieve my mother, whom I buried on Friday, to reflect, to work on myself, and to focus on building out a world-class leadership team,” Mr Kalanick said in a memo to Uber’s staff.
His decision to step aside follows a time of crisis that has profoundly shaken Silicon Valley’s most valuable private company and led to the departure of many top executives.
- Copyright The Financial Times Ltd
