1. The news came hours after investors demanded in a letter to Kalanick, 40, that he resign as CEO and a week after Kalanick announced an "indefinite leave of absence" amid personal and professional difficulties, the Times reported.
  2. Kalanick recently has been blasted for his "management style," The Associated Press reported. He is also grieving the death of his mother, who was killed in a May boating incident.
  3. Kalanick reportedly will stay on the board of directors of the beleaguered company, which is still reeling from "revelations of sexual harassment in its offices, allegations of trade secrets theft and an investigation into efforts to mislead government regulators," according to the AP.
  4. In a statement, Kalanick said he loves the company "more than anything in the world" but has "accepted the investors' request to step aside so that Uber can go back to building rather than be distracted with another fight."
  5. The board called Kalanick's move "a bold decision and a sign of his devotion and love for Uber."
  6. "By stepping away, he's taking the time to heal from his personal tragedy while giving the company room the fully embrace this new chapter in Uber's history," the board said.
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