Travis Kalanick cuts all ties with Uber

Travis Kalanick, co-founder Uber  is leaving the board effective Dec. 31. Kalanick was removed as CEO in 2017 but remained a director. He has dumped practically all his stake in Uber since the company’s stock lockup period expired in November. It’s unclear how much Kalanick’s total stake is worth, but the latest public filings show it’s about $2.5 billion.

Uber did not say who will fill Kalanick’s board seat. An Uber spokesperson said the ride-hailing company has “strong director candidates to put forward at the appropriate time.”

Source: CNBC