Uber directors could vote to cut Travis Kalanick’s power – Roadshow

Uber CEO Travis Kalanick Attends The Third Netease Future Technology Conference

Uber’s former CEO is in a power struggle with the company’s other directors.

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Directors on Uber’s board will reportedly vote on Tuesday on reforms that would limit the power of the ride-hailing company’s former CEO Kalanick.

As well as deciding whether to reshape the Uber’s governance, the board will also vote on whether to sell $10 billion of stock to Japanese internet giant SoftBank, according to Bloomberg, which quoted two people familiar with the matter.

The vote would come in the midst of a particularly difficult year for the company. Last month, London’s transport regulator refused to renew the company’s licence to operate in the city due to safety concerns. Uber has also struggled throughout 2017 with ongoing internal drama at the highest levels.

Kalanick, who resigned in June but remains on the company’s board, appointed two new members on Friday, which was “a complete surprise” to the other directors. He named ex-Xerox CEO Ursula Burns and ex-Merrill Lynch head John Thain as the company’s newest directors “in light of a recent board proposal to dramatically restructure the board and significantly alter the company’s voting rights.”

Kalanick is also currently facing a lawsuit from one of Uber’s early investors that alleges he misled stockholders in order to gain control of three board seats.

Uber did not immediately respond to request for comment.

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