Uber’s controversial founder and former CEO, Travis Kalanick is leaving the company’s board, Techcrunch reported. It appears Mr. Kalinick has sold all of the stock he had in the ride-hailing service
Kalanick, who was forced out as Uber CEO and eventually replaced by Dara Khosrowshahi through shareholder action, with support of the board, in 2017, has been in the process of selling off his considerable ownership stake in the company through successive sales of his shares. Just last week, Kalanick sold around $383 million in shares and reduced his overall stake to less than 10%, per an SEC filing. UPDATE 7:35 AM PT: In fact, it looks like Kalanick has actually sold all his remaining stock, with the SEC filings to show up on the web likely after the Christmas holiday, per the FT. The share sales started when Uber’s restriction on the sale of stock for private investors and employees expired six months after the company’s IPO.
Check It Out: Uber Founder Travis Kalanick Quits Company Board