Uber CEO to Take Leave, Diminished Role after Workplace Scandals

Megalith

Megalith

24-bit/48kHz
Staff member
Joined
Aug 20, 2006
Messages
13,003
As hinted by reports over the weekend, Travis Kalanick will indeed be taking a temporary leave of absence from Uber. Nobody knows when he’ll return, but he will come back to a diminished role: some of the CEO’s job responsibilities will be transferred to a chief operating officer (a position that hasn’t been filled yet). The investigation into Uber has resulted in a long “to-do” list for the company, but it remains to be seen how well they will clean up their act.

The company will be run by a management committee as it tries to navigate a wave of scandals. Upon Kalanick’s return, Uber will strip him of some duties and appoint an independent chair to limit his influence, according to an advance copy of a report prepared for the board. At a staff meeting Tuesday, the company conveyed the results of a probe conducted by Eric Holder, the former U.S. attorney general who Uber hired to look into allegations of harassment, discrimination and an aggressive culture. The 47 recommendations include creating a board oversight committee, rewriting Uber’s cultural values, reducing alcohol use at work events, and prohibiting intimate relationships between employees and their bosses.
 
And on the way out, we'll pay him $100M even though we haven't yet been profitable.
 
I'd like to see him say "I'm the douche! Come at me bro!"
 
Oh no! Guy who got rich off of taking the profits from others hard work building up a company and doing the labor, forced into diminished role by his own bad decisions that severely hurt the company. Will be punished by spending free time at the age of 40 doing whatever he wants with his 6+ billion dollars. THE TRAVESTY!
 
I don't understand how the aren't profitable. They should be running lean, it's the most simple of business models. Sound be pure profit.

Chunder said:
Oh no! Guy who got rich off of taking the profits from others hard work building up a company and doing the labor, forced into diminished role by his own bad decisions that severely hurt the company. THE TRAVESTY!
Click to expand...


Lol seriously? This is EVERY business owner ever. L2econ
 
Just wonder how a committee is going to keep this hugely unprofitable business afloat. They lose about $750MM annually at present.
Kalanick was an extraordinarily capable fund raiser. Now a team of his underlings has to step up to that job, while no one knows who is on first.
 
etudiant said:
Kalanick was an extraordinarily capable fund raiser. Now a team of his underlings has to step up to that job, while no one knows who is on first.
Click to expand...

Pity he's such an insufferable arsehole who'll smear his own shit on toast and think it's Nutella.
 
focbde said:
Pity he's such an insufferable arsehole who'll smear his own shit on toast and think it's Nutella.
Click to expand...

Perhaps not a 'nice guy', but his fund raising was spectacular and essential for the the firm's growth and success. Now he is out as is David Bonderman, the TPG co-founder who was on Uber's Board.
Still Uber needs to keep the funds flowing because they are still far from profitability. Yet the only money man left on the Board now is Bill Gurley, of Benchmark Capital. He does not have Bonderman's clout, imho
A cautious, by the book strategy will kill the company dead, the cash will dry up before the profits come in. Not confident that the incoming group leadership can be bold enough to avoid shipwreck.
 
The only CEO I would price at a couple of million is Lisa Su, the rest of these fuckers are over priced suits worth under a million.
 
You must log in or register to reply here.
Back
Top