With Travis Kalanick Out, Uber Searches for a New CEO

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Uber is looking for a new CEO after Travis Kalanick resigned as the company's chief executive on Tuesday after being forced from the job by top investors in the company.

Three crisis management experts told Fortune Kalanick's departure was the correct move for the company - but Uber still has a long way to go. Kalanick said in a statement to The New York Times on Tuesday that he has accepted a request from investors to step aside.

"Kalanick's presence was symbolic of the apathy and toxicity that has characterized Uber of late, and his resignation is the first step to rehabilitating their brand image", she said.

Camp, who now acts as a chairman at Uber, said that the company has formed a new executive leadership team, and that he believes the company can increase its impact "once we have additional leadership and training in place, and evolve our culture to be more inclusive and respectful". The loss narrowed from $991 million in the previous quarter. Uber's problems escalated further last week when Kalanick then announced he would take a leave of absence.

If anything, Kalanick's departure is the first step Uber needs to reinvent itself. Associate Professor at Harvard Business School, Benjamin Edelman, said that Uber can not be fixed and that it is time for regulators to shut it down. The report contained about 50 different recommendations meant to fix Uber's workplace culture and business practices. The company often flouted city regulations for taxi companies with a culture that encouraged "Principled Confrontation". The company was valued at near $70 billion the last time it sought capital.

The investors delivered the letter to Kalanick while he was in Chicago, the New York Times reported, citing people with knowledge of the situation.

Many argued that Uber's workplace culture and leadership style were a direct reflection of Kalanick, who is seen as an aggressive leader willing to do whatever it takes to push his company to the top.

In a Medium post, Canadian Uber co-founder Garrett Camp the path that got Uber to where it is today, and the way to move forward. Kalanick still essentially has majority voting control of Uber. In May, his mother was killed and his father hurt in a boating accident on a California lake.

She repeated that position on Friday in an interview with Reuters by saying Kalanick's leave of absence was exclusively his decision.

Kalanick has been humbled by recent events, which included the release of a dashcam video showing him berating and cursing at one of Uber's drivers.

"Now they can look for a chief executive officer and they can really shoot for the stars in terms of experienced talent", Lashinsky said.

As Laurie Ruettimann, who spent twenty years working in HR for several major corporations, explained to Vox, Uber only got serious about tackling their hostile culture when Susan Fowler's post went viral. In 2016, the only year it provided data for, it collected $20 billion in revenue, but by the time all was said and done, it'd lost $2.8 billion.

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