Uber co-founder to resign from board of directors after stepping down as CEO

Uber co-founder and former CEO Travis Kalanick announced on Tuesday that he will depart the ride-hailing company’s board of directors on Dec. 31.

Kalanick said in a statement that he is “proud of all that Uber has achieved” and pledged to “continue to cheer for its future from the sidelines.”

“Uber has been a part of my life for the past 10 years,” he added. “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 philanthropic pursuits.”

Kalanick stepped down as CEO in June 2017 amid reports that he had failed to take action despite knowledge of sexual harassment allegations at the company.

CNBC, citing Securities and Exchange Commission filings, reported that Kalanick has sold more than $2.5 billion in Uber stock since November, adding that he is on track to be completely divested from the company over the next few days if he keeps up the current pace.  

Kalanick also said in his statement that he would focus on “his new business and philanthropic endeavors.” He is currently working to launch CloudKitchens, a venture that rents out space to delivery-based restaurateurs, according to CNBC.