Uber CEO, Kalanick resigns over sexual allegations

The Chief Executive of Uber Travis Kalanick has resigned following pressure from shareholders and investors that he should step aside

However, Mr Kalanick will remain on the board of the firm.

His resignation follows a review of practices at the firm and scandals including allegation of sexual harassment against him.

Last week he said he was taking an indefinite leave of absence.

Five major Uber investors demanded Mr Kalanick’s immediate resignation in a letter on Tuesday.

Mr. Kalanick heeded the demand of the investors saying that he was stepping aside in the intrest of the company.

“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.”