Uber Technologies Inc chief executive officer Travis Kalanick resigned, capping a series of controversies that have rocked the world’s largest technology start-up and exposed fundamental problems with its male-dominated culture.
The man most closely identified with the ride-hailing giant’s meteoric global ascent said he was ceding to investors’ wishes that he step aside, in part to avoid yet another conflict.
Uber’s been dogged by drama this year, from allegations of sexual harassment to the use of software to bypass regulators.
The outgoing CEO joins a string of departures, including the company’s chief business officer Emil Michael and president Jeff Jones.
Kalanick admitted his leadership failings after Bloomberg posted a video showing the executive arguing with an Uber driver, an incident that helped shore up resentment among its drivers.
His departure comes weeks after the death of his mother in a boating accident.
“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.
He is to remain on the board of directors, Uber said separately.
Kalanick’s resignation was reported earlier by the New York Times.
Despite recent turmoil, Uber’s business is growing. Revenue increased to US$3.4 billion in the first quarter, while losses narrowed — though they remain substantial at US$708 million. Kalanick remains a billionaire given his stake in the company, with a net worth of US$6.7 billion according to the Bloomberg Billionaire’s Index. Uber itself has been valued at US$69 billion.
“This is a bold decision and a sign of his devotion and love for Uber,” Uber’s board of directors said in an e-mailed statement about Kalanick.
NO VIRUS BLUES: A SEMI Taiwan official said that the virus does not slow down the global semiconductor industry’s investment in manufacturing equipment The production value of the nation’s semiconductor industry is expected to grow 16.7 percent this year from last year, outpacing the global industry’s 3.3 percent growth, industry association SEMI said yesterday. That would help Taiwan safeguard its second spot in the global semiconductor market with a production value of more than NT$3 trillion (US$102.73 billion), SEMI Taiwan president Terry Tsao (曹世綸) told a media briefing in Taipei for the Semicon Taiwan trade show beginning today. The global semiconductor industry’s production value is expected to increase to US$426 billion this year, SEMI said. In terms of semiconductor equipment investment, equipment billings from Taiwanese firms
Intel Corp has received licenses from US authorities to continue supplying certain products to Huawei Technologies Co (華為), a company spokesman said yesterday. Washington has been pushing governments around to world to squeeze out Huawei, saying that the telecom giant would hand data to Beijing for espionage. From Monday last week, new curbs have barred US companies from supplying or servicing Huawei. This week, the state-backed China Securities Journal reported that Intel had received permission to supply Huawei. China’s Semiconductor Manufacturing International Corp (SMIC, 中芯國際), which uses US-origin equipment to make chips for Huawei and other companies, last week confirmed that it had sought
INVEST IN TAIWAN: A metal components casting firm and the world’s largest maker of aluminum bicycle rims also obtained approvals to join the program Solar Applied Materials Technology Co (SOLAR, 光洋應用材料), a part of Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) “green supply chain,” has pledged to invest NT$1 billion (US$34.1 million) to build a new plant at the Tainan Technology Industrial Park (台南科技工業區), the Ministry of Economic Affairs said yesterday. SOLAR has been collaborating with TSMC to extract precious metals from waste and reuse them as “sputtering target” material in high-end semiconductor manufacturing, a TSMC press release issued in May said. Established in 1978, SOLAR also offers key materials and integrated services to customers in the optoelectronics, information and communications technology, petrochemicals and consumer electronics industries,
Swancor Renewable Energy Co (上緯新能源) yesterday announced plans for a 4.4 gigawatt (GW) offshore wind project off Miaoli County as part of its commitment toward Taiwan’s energy transformation, the company said in a statement. The “Formosa 4” project includes three deep-water wind farms 18km to 20km off the coast, Swancor Renewable CEO Lucas Lin (林雍堯) said, adding that planning for the project began last year. A proposal for Formosa 4 was this week submitted to the Environmental Protection Agency (EPA), the company said. Swancor Renewable jointly developed the Formosa 1 project, a 128 megawatt (MW) wind farm about 4km off Miaoli and the