Travis Kalanick, who co-founded ride-sharing service Uber, has stepped down from his post as chief executive officer, The New York Times reported on Wednesday, citing sources. His exit came Tuesday after five of the company’s big investors, which includes venture capital group Benchmark, had a letter delivered to Kalanick while he was in Chicago, demanding his resignation. The letter, obtained by The New York Times, stated that the company needs a new leader and after hours of talks, Kalanick agreed. “I love Uber more than anything in the world and at this difficult moment in my personal life I have accepted the investors request to step aside so that Uber can go back to building rather than be distracted by another fight,” Kalanick said in a statement, according to the Times. A spokesperson for Uber could not immediately be reached for comment.
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