Travis Kalanick has resigned as Uber CEO following a shareholder revolt over various controversies during his time in the company's driver's seat.
According to The New York Times, a group of major Uber investors demanded Kalanick's immediate resignation earlier Tuesday. Kalanick acquiesced after "hours of discussions," but will reportedly stay on the ride sharing service's board. He still controls a majority of voting shares.
"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 with another fight," Kalanick said to The New York Times.
"Travis has always put Uber first," the company's board said in a statement. "This is a bold decision and a sign of his devotion and love for Uber. By stepping away, he's taking the time to heal from his personal tragedy while giving the company room to fully embrace this new chapter in Uber's history. We look forward to continuing to serve with him on the board."
Kalanick co-founded Uber in 2009 and has become synonymous with the company.