SAN FRANCISCO _ One week after taking a leave of absence from the $70 billion company he founded, ride-sharing firm Uber's CEO Travis Kalanick has resigned.
The embattled executive stepped down Tuesday in response to a letter signed by several of Uber's shareholders, said a person familiar with the situation who asked not to be named.
The investors had demanded that Kalanick resign in the wake of long-running controversy over Kalanick's aggressive behavior and the company's workplace culture. They included one of Uber's biggest shareholders, the venture capital firm Benchmark, which has one of its partners, Bill Gurley, on Uber's board.
Others who signed the letter include Menlo Ventures, First Round Capital and Lowercase Capital, according to the person.
Kalanick submitted his resignation, effective immediately, after receiving the letter, having a conversation with certain investors, and then talking to the board of directors.
He hasn't given up his own board seat.
Kalanick's fellow board members had kind words for him Tuesday.
"There will be many pages in the history books devoted to @travisk � very few entrepreneurs have had such a lasting impact on the world," Gurley tweeted.
In a statement, the board reportedly called Kalanick's decision "a sign of his devotion and love for Uber."
The move comes as Kalanick continues to mourn the sudden death of his mother, who was killed in a boating accident last month that also injured his father.
Kalanick's resignation comes after dealing with an outright rebellion, in which a block of the biggest shareholders demanded he step down.
The New York Times first reported Kalanick's resignation.
In a joint letter, titled "Moving Uber Forward" and obtained by The Times, the investors wrote to Kalanick that he must immediately leave and that the company needed a change in leadership.
Kalanick issued a statement Tuesday acknowledging the move, according to The Times. "I love Uber more than anything in the world and at this difficult moment in my personal life I have accepted the investors request to step aside so that Uber can go back to building rather than be distracted with another fight," he said in the statement.
