The Good....Travis Kalanick has finally resigned after much speculation.
The Bad....He will remain on the board of the company he co-founding back in 2009.
The Ugly....The company is to rebuild under new management.
More Good....Fares will rise by at least 60% as the subsidies will be drying up as investors look to get their money back.
The driver will now have to pay the company 35% of the fare.
More Bad....The customer will have the option to tip with just a tap on the app. But will customers be in the mood to tip after his massive price rise?
More Ugly...Uber have had to make a statement to both passengers and drivers about flirting conversation, plus passengers of ride share trips are advised not to touch or flirt with each other.
Amazingly the drivers have been warned that "sexual contact" with passengers is not allowed.
THIS IS THE COMPANY THAT TfL DEEM TO BE FIT AND PROPER, AND YET DRIVERS HAVE TO BE WARNED NOT TO HAVE SEXUAL CONTACT WITH PASSENGERS AS ALLEGATIONS OF GROSS SEXUAL ASSAULT ON PASSENGERS HAVE ESCALATED.
MOVING UBER FORWARD....You couldn't make it up!
Uber founder and CEO Travis Kalanick RESIGNS citing 'difficulties in his personal life' just days after going on indefinite leave in the wake of the company's sexual harassment scandal
The 40-year-old entrepreneur announced he was stepping down at the firm he founded in 2009 deals with a sexual harassment scandal.
Uber's board confirmed the move early on Wednesday, saying in a statement that Kalanick is taking time to heal from the death of his mother in a boating accident 'while giving the company room to fully embrace this new chapter in Uber's history.'
He will remain on the Uber Technologies Inc. board.
In a boardroom showdown, five of Uber's major investors, including Bill Gurley from capital firm Benchmark, demanded that the chief executive resign immediately.
They then obtained a letter in which Kalanick announced his resignation, titled: 'Moving Uber Forward.'
In a statement, the 40-year-old co-founder said his resignation would help Uber go back to building 'rather than be distracted with another fight,' an apparent reference to efforts on the board to oust him.
It was unclear who would replace Kalanick.
Kalanick cited his 'personal life' as part of the reason he was stepping down from the company he founded in 2009
After the resignation, Uber investor and board member Bill Gurley (pictured above) took to Twitter saying: 'There will be many pages in the history books devoted to Travis Kalanick - very few entrepreneurs have had such a lasting impact on the world.'
The resignation came after a series of costly missteps under Kalanick that damaged Uber's reputation including revelations of sexual harassment in its offices, allegations of trade secrets theft and a federal investigation into efforts to mislead local government regulators.
Also, Kalanick lost his temper in an argument with an Uber driver who was complaining about pay. The profanity-laced confrontation was caught on a video that surfaced in February. Afterward, Kalanick said he needed management help and had to grow up. The company began searching for a chief operating officer.
In March, board member Arianna Huffington expressed confidence that Kalanick would evolve into a better leader. But Huffington, a founder of Huffington Post, has now suggested time may have run out.
Kalanick's resignation comes after he took a leave of absence earlier this month in the wake of a report being released into sexual assault claims made against the ride-sharing company.
His decision, though widely anticipated and called for by industry experts, came after former attorney general Eric Holder returned a damning, 13-page report into Uber's flaws.
The ex-attorney general and a team at Covington and Burling LLP created the report after being asked to investigate claims made in February by female former employees who alleged rampant sexual harassment at the company.
The two ex-employees also claimed at the time there were also incidents of homophobia and racism, all of which they said took place inside the environment fostered by Kalanick and his circle of trusted top executives.
Five of Uber's major investors, including Bill Gurley (pictured) from capital firm Benchmark, demanded that the chief executive resign
On Wednesday, Uber announced it would be enabling passengers to tip its U.S. drivers with a tap on its ride-hailing app for the first time, part of a push to recast itself as a company with a conscience and a heart
Uber was having trouble dealing with its success.
It posted a $708 million first-quarter loss, unable to turn $3.4 billion in revenue into a profit. The loss narrowed from the $991 million it posted in the previous quarter.
Investors have talked about selling stock in Uber to the public. The company was valued at near $70 billion the last time it sought capital.
Holder's report featured a list of 10 recommendations that could help fix its culture, including a ban on booze at work parties and staff members having sex with each other
WHAT THEY'RE SAYING ON TWITTER
Source : Mail on line, Bloomberg, Twitter.