One of Uber’s top executives and CEO Travis Kalanick’s closest aid Emil Michael, has decided to leave the company. This is according to a report from Recode, which has proven to be pretty reliable where Uber is concerned. Interestingly, this also follows our report that Michael would be leaving the firm.
Apparently, the departure comes as a result of an all-day meeting held at at Uber’s law firm offices situated in Los Angeles. The meeting took place over the weekend and saw a host of recommendations put before the board, including the suggestion to remove Emil Michael from the company.
Earlier in the day, we had reported that at the meeting, the Uber board had agreed to all of the suggestions put before it. Considering that we have been hearing reports of Emil Michael’s impending departure from the company since days, this isn’t really s surprise. The only thing that remains to be seen now, is whether CEO Travis Kalanick will also take a temporary leave of absence from the ride hailing firm.
This is of course a possibility, considering that the predictions regarding the Uber SVP of Business have proved to be true. However, Kalanick is the face of Uber and as such, his departure — be it temporary — will be a much more momentous event. The board will also have to take a lot of things into account — including his successor — before it arrives at a decision. As such, it could well be a few days before the board announces a decision on that topic.
[UPDATE : Travis Kalanick departs, talks about Uber 2.0]
As had been long rumoured, Uber’s board seems to have accepted all of Holder Report recommendations, and hence, CEO Kalanick is departing. The move was an expected one (and much needed according to experts) considering the slew of sexual misconduct charges that have taken over Uber.
In an internal memo written to his employees, Kalanick says,
The ultimate responsibility, for where we’ve gotten and how we’ve gotten here rests on my shoulders. There is of course much to be proud of but there is much to improve. For Uber 2.0 to succeed there is nothing more important than dedicating my time to building out the leadership team. But if we are going to work on Uber 2.0, I also need to work on Travis 2.0 to become the leader that this company needs and that you deserve.
While sexual misconduct charges have rightly led to this, it will be a daunting task for the company to stay on the aggressive, no nonsense, carefree growth path, its founder and CEO put it onto. The company is the most valued startup, with its last round fetching it a $68B valuation tag.
Will be interesting to see how company’s investors react to the development. More on this soon.