Thursday, 22 June 2017 06:47

Uber CEO Travis Kalanick Resigns; Board Shuffle Continues

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Travis KalanickUber Technologies’ CEO Travis Kalanick, 40, has stepped down from his role. He will continue to serve on the board of directors.  Five of the major shareholders in the company – Benchmark Capital, Fidelity, First Round Capital, Lowercase Capital and Menlo Ventures, demanded the CEO’s resignation. 

Kalanick co-founded Uber in 2009 and led it to be the largest U.S. ride-hailing service and among the biggest globally. Prior to Uber, he co-founded Red Swoosh in 2001 that specialized in file-sharing technology and managed to sell it to Akamai Technologies for nearly $19 million in 2007. Before Red Swoosh, he co-founded Scour with his UCLA batch mates in 1998 which offered an Internet search engine and file-sharing services.

CEO Travis Kalanick had announced earlier this month that he would take an indefinite leave from the company, to reflect on the ongoing changes and to grieve the death of his mother, according to CNN Money. The company was decided to be run by a management committee as it tries to navigate the wave of scandals.  

David TrujilloMeanwhile, TPG Capital elected David Trujillo, 40, as new Uber board member replacing David Bonderman, 74, founder of private equity firm TPG, who was cited making a sexist remark last week, and stepped down later on. Trujillo is a Partner at TPG, where he leads TPG's Internet, digital media, and communications investing efforts across the firm’s Growth and Capital platforms. Prior to joining TPG in 2006, David was a VP and Associate at GTCR Golder Rauner.

Benchmark Capital Partner Bill Gurley, 51, is also leaving Uber’s board and will be replaced by another Benchmark Partner Matt Cohler, 40. 

At Benchmark, Gurley has led investments in and holds board seats on Brighter, DogVacay, GrubHub, HackerOne, Linden Lab, LiveOps, Nextdoor, OpenTable, Sailthru, Scale Computing, Stitch Fix, Vessel, and Zillow, among many earlier ones. Before joining Benchmark in 1999, Gurley was a partner at Hummer Winblad Venture Partners. He had also spent four year and was a Research Analyst on Wall Street including three years at CS First Boston. 

Cohler is a venture capitalist based in Silicon Valley. He served as VP of Product Management for Facebook till June 2008.

Uber's key roles now open - include CEO, Chief Diversity Officer, CFO, CMO, COO, General Counsel and SVP, Engineering.

Date: June 22, 2017

Read 465 times Last modified on Thursday, 22 June 2017 07:03
Dora Vell

Dora Vell is the Managing Partner of Vell Executive Search, a boutique executive search firm in Boston focused on recruiting technology executives and board members. Vell has successfully completed numerous board member and C-level executive searches, including CEOs, COOs, CIOs, and Vice Presidents - at both public and private companies.

Prior to founding the firm in 2005, Vell was a Partner at Heidrick & Struggles' Technology practice for seven years.  Before her career in executive search, she worked at IBM for 11 years, managing software engineering organizations of 100 people and software sales organizations with revenues of $150 million. She has also served as an executive assistant to the CEO of IBM Canada for one year.

Vell holds seven worldwide software patents. She has published several Business of Leadership reports on governance and leadership and has been quoted in numerous articles including The Wall Street Journal, Forbes, Business Week, Fortune, Agenda Week, MSNBC, Mass High Tech, the OPUS for the World Economic Forum, Boston Business Journal, The Globe & Mail, CIO Magazine, and IEEE. She also has been a featured speaker on leadership at numerous conferences and at Columbia University's MBA program.

Vell is a member of the National Association of Corporate Directors (NACD), the Boston CEO Roundtable. She has served on the boards of Framingham State, Entrepreneur's Organization, Goodwill, Mary Centre for developmentally handicapped adults, garage.ca, and RBC Capital Partners.

She has received an MBA from the University of Toronto, a Master in Computer Science from the University of Waterloo, and a Bachelor in Computer Science from Carleton. She has also completed the MIT Entrepreneurial Master’s program.

www.vell.com/

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