Uber's board is reportedly thinking about stripping cofounder Travis Kalanick of his power Business Insider
Travis Kalanick
caption Uber cofounder and former CEO Travis Kalanick. source Thomson Reuters
Uber’s board is considering whether to strip Travis Kalanick  the company’s cofounder and former CEO  of his power after he abruptly appointed two new board members without consulting the company’s leaders  according to Bloomberg.
As a result   Kalanick ’s voting power would be watered down  as would Benchmark’s (a venture-capital company that counts  itself  as Uber’s majority shareholder). Benchmark favors the changes  but  Kalanick  does not.
The plan would also strip  Kalanick  of one of his board seats and give it to SoftBank  Bloomberg reports.  Kalanick ’s remaining seat would reportedly require Khosrowshahi’s approval. Another caveat is that it would need to be filled by a C-suite member of a current Fortune 100 company. It’s unclear what will happen now that  Kalanick  has tried to fill the other two seats himself.
caption Uber cofounder and former CEO [TGT]. source Thomson Reuters
Uber’s board is considering whether to strip [TGT]  the company’s cofounder and former CEO  of his power after he abruptly appointed two new board members without consulting the company’s leaders  according to Bloomberg.
As a result   Kalanick ’s voting power would be watered down  as would Benchmark’s (a venture-capital company that counts  itself  as Uber’s majority shareholder). Benchmark favors the changes  but  Kalanick  does not.
The plan would also strip  Kalanick  of one of his board seats and give it to SoftBank  Bloomberg reports.  Kalanick ’s remaining seat would reportedly require Khosrowshahi’s approval. Another caveat is that it would need to be filled by a C-suite member of a current Fortune 100 company. It’s unclear what will happen now that  Kalanick  has tried to fill the other two seats himself.