Uber Founder Travis Kalanick has stepped down as CEO of Uber ride-hailing service, according to a report by The New York Times.
Kalanick’s exit came after pressure involving Uber’s investors. Five of Uber’s major investors demanded that he resign immediately, says the report. The investors wrote a letter to Kalanick saying that he must leave and the company needed a change in leadership.
Kalanick agreed to step down and will remain on Uber’s board of directors, according to the report.
Click here for the full New York Times report.