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Uber founder Travis Kalanick resigns as head of the company

Uber Chief Executive Officer and founder Travis Kalanick resigned on Tuesday, The New York Times reported.

Earlier, five major shareholders pressed him to quit. Investors said that the company needs changes in the leadership. Mr. Kalanick discussed this requirement with investors and members of the board of directors of Uber, and then agreed to leave.

Mr. Kalanick said, he accepted the demand of investors to leave the post so that Uber can move on rather than be distracted with another conflict.

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