Uber Board Hosts Upset Over Benchmark’s Lawsuit Against Travis Kalanick

Uber Board

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The Uber drama continues, and the governing body has said something regarding the fermenting fight between early financial specialist Benchmark and previous CEO Travis Kalanick.

In wake of a claim Benchmark documented against Kalanick, the organization’s board hosts issued an announcement encouraging the two individuals to resolve their disparities with the goal that representatives can return to work and the organization can return to procuring another CEO.

Recently Benchmark sued Kalanick for misrepresentation, breach of agreement and rupture of fiduciary obligation in Delaware Chancery Court. The claim was recorded with an end goal to kick Kalanick off the board and get rid of a few empty board seats that were added last year, with Benchmark contending that it would never have endorsed the expansion of those seats that they had known about Kalanick’s “gross blunder” of the organization.

The botch Benchmark refers to for the situation which incorporates sexual discrimination claims brought against Uber recently, and additionally the procurement of self-governing trucking organization Otto, which has led to a trade secret case filed against it by Google-owned self-driving car unit Waymo.

Benchmark’s lawsuit led some investors earlier today to encourage the investment firm to vacate its place on the board and divest enough shares so that it would be stripped of its board voting rights.

Also, now, Uber’s board is declaring something through a statement sent out by Uber co-founder chairman Garrett Camp on behalf of all the directors – or at least, those who are not Kalanick or Benchmark.

In it, the board says it is “frustrated” the difference between investors has brought about the case and hosts asked the two parties to determine the issue “agreeably and rapidly.” It additionally says that the board is finding a way to encourage that procedure, yet doesn’t go into points of interest.

Official Camp has said Kalanick won’t return as CEO, despite reports that he has been angling to do just that. The phantom of the contentious originator hauling strings in the background evidently spooked some CEO applicants, obviously, the case by Benchmark likely doesn’t help as the organization proceeds with its search for another viable CEO candidate.

The full statement is below:

The Board of Directors is disappointed that a disagreement between shareholders has resulted in litigation. The Board has urged both parties to resolve the matter cooperatively and quickly, and the Board is taking steps to facilitate that process. At a time when thousands of employees around the world are working hard to serve our drivers and riders and continue to innovate, our priority remains to select Uber’s new CEO as quickly as possible. We are fortunate to have several outstanding candidates who share our belief in Uber’s great future.

Source: Techcrunch

Uber Board Hosts Upset Over Benchmark’s Lawsuit Against Travis Kalanick