TECH | Uber board meeting right now, CEO might be asked to leave

Image result for Breaking: Uber board meeting right now, CEO might be asked to leave

Uber Technologies Inc’s board will discuss Chief Executive Travis Kalanick temporarily stepping away from the embattled ride-hailing firm. It will also consider sweeping changes to the company’s management practices, according to a report by Reuters.

The discussion will involve the possibility that Kalanick might return in a role with less authority, the report said, either in a position other than CEO or as CEO with narrower responsibilities and subject to stronger oversight.

The meeting, which Uber has not publicized, could be a pivotal moment for the world’s most valuable venture-backed private company.

At the Sunday meeting, according to two people familiar with the matter, the seven voting members of Uber’s board, including Kalanick, are expected to vote on recommendations made by the law firm of former U.S. Attorney General Eric Holder, which conducted a review of the company’s policies and culture.

Some of the recommendations in Holder’s firm’s report would force greater controls on spending, human resources and other areas where executives led by Kalanick have had a surprising amount of autonomy for a company with more than 12,000 employees.

Be the first to comment

Leave a Reply

Your email address will not be published.