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Uber investor takes legal action to force former CEO Kalanick off board


Uber investor takes legal action to force former CEO Kalanick off board

Fri, 11 August 2017
Article viewed 13 times
Uber investor takes legal action to force former CEO Kalanick off board

(ShareCast News) - Former Uber CEO Travis Kalanick faces a legal battle to remain part of the lift-hailing company's executive board after an investor filed a lawsuit to have him removed.
Venture capital firm Benchmark Capital has begun the action against Kalanick, who it accuses of concealing malpractice from the board and attempting to assert control despite his resignation earlier this year.

Kalanick stepped down as the tech company's boss in June following months of scandals and shareholder pressure, as well as the death of his mother in a boating accident.

In the lawsuit, Benchmark claims that it owns 13% of the company, as well as 20% of the voting rights.

In a statement released by Benchmark which is highly critical of Kalanick, it accuses the former CEO of using his influence at the company to protect his own interests.

"Kalanick's overarching objective is to pack Uber's Board with loyal allies in an effort to insulate his prior conduct from scrutiny and clear the path for his eventual return as CEO," the statement said.

Uber has been caught up in a series of PR disasters in the early part of 2017, including a dashcam video which was released showing Kalanick berating one of the company's drivers.

That incident led to an acknowledgment from Kalanick that he must "fundamentally change" as the boss of the firm.

The company was also rocked earlier this year by the allegations from a former employee that she had been sexually harassed and that the company continued to tolerate such behaviour after her departure.