Uber Board Approves Governance Changes Limiting Kalanick’s Power (Oct 4, 2017)
The Uber board met yesterday and approved proposed changes to the company’s governance, which limit Travis Kalanick’s power, commit the company to an IPO by 2019, open the door to an investment by SoftBank, and resolve some simmering issues among the board members. That’s a great step forward, and was followed by a somewhat bizarre statement from Kalanick welcoming the changes, which was rather odd given that his two appointments to the board late last week were widely seen as a petulant response to the proposed changes. Still, the changes should allow Uber to move forward on a more solid footing, with Benchmark apparently backing down from its lawsuit, Kalanick apparently on board, and therefore much of the recent drama starting to cool off. It would be great if the board could now focus on implementing all the other changes recommended in the Holder report and get on with transforming the company into one with a healthy culture.
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