Investor pressure forces Uber CEO to resign

- Uber co-founder Travis Kalanick has resigned from his position as chief executive of the global ride-sharing company, bowing to pressure from investors after a string of controversies including a US federal inquiry, intellectual property lawsuit and revelations of workplace culture problems.

- Overseas reports indicate that Mr Kalanick will remain on the board of directors but that the billionaire and public face of Uber stepped down this week after five of the company’s major investors, including Benchmark Capital, wrote a joint letter demanding his immediate resignation.

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