Due to a number of scandals, the 43-year-old co-founder of Uber has been asked to step down from the Uber board of directors. Travis Kalanick, however, remained a part of the company’s nine directors.
Kalanick has recently sold off 90% of his shares in Uber. Two months ago, he liquidated close to $2.5bn (£1.9bn) worth of stock representing over 90% of his earlier stake in the company.
“At the close of the decade, and with the company now public, it seems like the right moment for me to focus on my current business and philanthropic pursuits,” said Mr Kalanick in a statement issued by Uber.
Mr Kalanick is currently heading City Storage Systems. A Los Angeles-based start-up buys up land and establishes kitchens for use by delivery-only restaurants, which operate via apps including Uber Eats.