International News from World: Uber’s co-founder Travis Kalanick is to step down from its board at the end of the year. The 43-year-old ousted the ride-hailing firm’s original chief executive within a year of its creation, but was himself forced to stand down six-and-a-half years later in 2017 after a number of scandals.
He had, however, remained involved as one of its nine directors. Mr Kalanick also recently sold off most of his shares in the company.
In the past two months he has liquidated about $2.5bn (£1.9bn) worth of stock, representing more than 90% of his earlier stake in the business.
“At the close of the decade, and with the company now public, it seems like the right moment for me to focus on my current business and philanthropic pursuits,” said Mr Kalanick in a statement issued by Uber.
“I will continue to cheer for its future from the sidelines.”
Mr Kalanick currently heads up City Storage Systems. The Los Angeles-based start-up buys up land and establishes kitchens for use by delivery-only restaurants, which operate via apps including Uber Eats.