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The founder of Uber resigned Tuesday as CEO after pressure from investors, The New York Times reported.

Travis Kalanick, earlier this month, took a leave of absence for an unspecified period and let his leadership team run the troubled ride-hailing company while he’s gone.

Five of the company’s key investors on Tuesday demanded that he resigned, the report said. The demand came in a letter titled, “Moving Uber Forward,” which was obtained by 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,” Kalanick reportedly said in a statement to the Times.

Recode, wrote, “He has yet to tell Uber employees, which seems to put a perfectly awful end point on his rocky tenure.”

Under Kalanick, Uber has disrupted the taxi industry in hundreds of cities and turned the San Francisco-based company into the world’s most valuable startup. Uber’s valuation has climbed to nearly $70 billion.

But Kalanick has acknowledged his management style needs improvement. The 40-year-old CEO said earlier this year that he needed to “fundamentally change and grow up.”

Besides the sexual harassment complaints, in recent months Uber has been threatened by boycotts, sued and subject to a federal investigation over its use of a fake version of its app to thwart authorities looking into whether it is breaking local laws.

Kalanick lost his temper earlier this year in an argument with an Uber driver who was complaining about pay, and Kalanick’s profanity-laced comments were caught in video that went viral.

The company has faced high turnover in its top ranks. Jeff Jones resigned as Uber’s president after less than a year on the job. He said his “beliefs and approach to leadership” were “inconsistent” with those of the company.

The Associated Press contributed to this report



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