Uber co-founder steps down from company board

Wednesday, 25 December 2019 08:20

Uber's co-founder Travis Kalanick has cut his last ties with the ride-hailing service.

He resigned from the board and has sold all his shares as he turns his focus to a new venture.

Kalanick reluctantly stepped down as chief executive back in June 2017 following a string of setbacks.

He is currently working on a startup that aims to build large industrial kitchens and lease space to restaurants.

The company known as "CloudKitchens" has already collected $400 million (AED 1.46 billion) in investor funding.

More from Business

Ford to offer its first eyes-off driver-assistance system in 2028

Ford Motor has announced on Wednesday it would bring Level 3 driver-assistance systems to market in 2028, allowing drivers to take their hands and eyes off the road while operating on certain highways.
Parkin to manage smart parking at select Spinneys, Waitrose stores

Parkin has signed an agreement to manage parking facilities at six Spinneys and Waitrose supermarkets across the city, as part of efforts to ease congestion and improve access at busy retail locations.
Meraas unveils expanded residential masterplan for Dubai Design District

Meraas, a member of Dubai Holding Real Estate, has unveiled an expanded residential masterplan for Dubai Design District (d3), transforming it into one of Dubai’s most desirable creative-led waterfront neighbourhoods.
UAE takes over presidency of MENA financial action task force

The UAE has taken over the presidency of the Middle East and North Africa Financial Action Task Force (MENAFATF) for 2026, represented by Hamid Saif AlZaabi.