The embattled founder and CEO of Uber reportedly stepped down Tuesday amid increasing pressure from shareholders.
Travis Kalanick was told in a memo by shareholders that he must leave immediately and that the company needs new leadership in the ongoing struggles, according to the New York Times.
After speaking with a board member and investors, Kalanick decided to step down from his position. He will still sit on the board of directors.
“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 to the Times.
Kalanick took a leave of absence last week after the company was hit by a number of scandals including sexual harassment accusations against employees and the disclosure of a company outing to a South Korean escort bar.
The same day he took his leave, board member David Bonderman resigned after joking during a meeting that women talk too much.