Via Yahoo Finance

Former Uber chief executive Travis Kalanick will resign from the board next week, effectively severing ties with the ride-hailing company he co-founded a decade ago.

Uber turbocharged the gig economy and since 2010 has logged 15 billion trips.

Mr Kalanick was ousted as chief executive in the summer of 2017 with the company mired in numerous lawsuits.

Travis Kalanick will resign from Uber’s board next week (Jeff Chiu/AP)

The departure did not come as a surprise.

Mr Kalanick recently sold more than 2.5 billion dollars-worth (£1.9bn) of shares in the company, more than 90% of his holdings.

Mr Kalanick said on Tuesday that he will be focusing on new businesses and philanthropy.

“Uber has been a part of my life for the past 10 years. 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,” Mr Kalanick said in a prepared statement on Tuesday.

“I’m proud of all that Uber has achieved, and I will continue to cheer for its future from the sidelines.”

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