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Uber CEO Travis Kalanick resigns
Uber CEO Travis Kalanick has resigned after facing irresistible pressure from major investors of Uber. But he is going to remain on the board of directors.

Kalanick's resignation comes after under his leadership, Uber, got involved in a number of controversies, thus drawing a lot of negative attention towards the company. The controversies ranged from Kalanick's personal inability to handle pressure to misuse of the available software to cases of sexual harassment being rubbed under the carpet within the company.

In a statement, he has said that that he loves Uber 'more than anything' and that he has accepted to step down as the CEO to let Uber grow and not be attacked by distractions.

"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 had earlier this month gone on a leave of absence for an indefinite period and during this time, the company was supposed to be run by a management committee. But now, after his resignation, the company would need a new CEO.

The company has been facing problems with its driver community as well. The rival companies seem to be offering their drivers better opportunities as compared to the ones provided by Uber. These opportunities range from letting the customers pay a tip to the drivers to insurance of the drivers. While providing such options might not cost Uber much , but they go a long way in building driver loyalty, experts have said.

Uber is at a stage where it cannot afford being embroiled in another controversy. The company, despite increasing revenue made a huge loss of $708 million last year.

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