Travis Kalanick's move to reignite the power struggle in Uber backfires

Travis Kalanick's move to reignite the power struggle in Uber backfires

Travis Kalanick's move to reignite the power struggle in Uber backfires

Kabbee chief executive Justin Peters called for a limit on the proportion of minicab drivers overseen by one company if Uber does have its licence renewed.

London transport officials have objected to Uber's approach to reporting serious criminal offences and its use of technology, which authorities say has helped the company to evade law enforcement officials.

Other additions to the company include Ursula Burns, former CEO and Chariwoman of Xerox and John Thain, who previously was CEO of CIT Group and the New York Stock Exchange. An Uber spokesperson called the power move "a complete surprise" on Friday, given the fact its former chief executive had controlled those seats but left them empty for more than a year, and that they are now at the center of a lawsuit from investor Benchmark Capital against Kalanick over alleged fraud.

In a statement to Business Insider Friday night, Kalanick basically admitted his surprise appointments were created to get in front of the proposed changes to the board structure.

In seeking to mend bridges with the TFL, today Khosrowshahi met with London's transport commissioner, 10 days after the regulator said it would not renew Uber's private-hire licence. The provision is meant to restrict.

At a meeting Tuesday, the board agreed to move forward with a deal that will allow SoftBank to invest in the ride services company, the report said.

Uber's board of directors voted on Tuesday for new measures that will reshape the company's power structure, stripping early investors, including ex-Chief Executive Travis Kalanick, of some of their influence. Further steps will take place over the coming weeks'. "We approved moving forward with the SoftBank transaction and reached unanimous agreement on a new governance framework that will serve Uber well". The preferred stock, which also had special voting rights, is held by early venture investors in Uber including Benchmark. The move ensures "equality among shareholders", Uber said in a statement following the meeting, but the board hasn't exactly kicked Kalanick to the curb.

In order to give SoftBank the two board seats it wants in exchange for the investment, Khosrowshahi has discussed expanding the board to 14, which would also make room for an independent chairman, people with knowledge of the discussions said.

Obviously, most of these new proposals would limit Kalanick's power on the board, which could explain why he made a decision to appoint members to the empty board seats he controls without any warning.

"Today's action is a naked violation and repudiation of those rights", he said in a statement. "Under Dara's leadership and with strong guidance from the Board, we should expect great things ahead for Uber", Kalanick said.

On Tuesday, Khosrowshahi - who has apologized to Londoners for the firm's mistakes- will meet TfL's Commissioner Mike Brown in a bid to fix a fraught relationship between the regulator and the taxi app, which has prompted strong opposition from unions and traditional taxi drivers over working rights.

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