The NewCo Daily: Today’s Top Stories
It took a shareholder revolt on the part of investors representing roughly 40 percent control of Uber to force out its founding CEO, Travis Kalanick, (Mike Isaac in The New York Times). VC and Uber board member Bill Gurley led the effort to oust Kalanick, despite the CEO’s close grip on a majority of the company’s voting shares (The Washington Post has the details).
After a season of relentless scandal, Kalanick’s departure gives the company its first real chance to press “reset” and see how much can be rescued from his legacy: a wreckage of toxic management and ethical lapses — along, of course, with the creation of a transformational ride-hailing service that has begun to reshape our cities.
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