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

Weaponising Strait of Hormuz is an act of economic terrorism: Sultan Al Jaber

Weaponising the Strait of Hormuz is an act of economic terrorism with global impact far beyond energy markets, asserted Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, while addressing CERAWeek in Houston, Texas.
IEA consulting with governments on further oil stock releases, chief Birol says

The International Energy Agency is consulting with governments in Asia and Europe on the release of more stockpiled oil "if necessary" due to the Iran war, Executive Director Fatih Birol said on Monday.
Dollar rises as escalating Middle East tensions spur haven demand

The dollar rose on Monday as escalating retaliatory threats in the Middle East conflict curbed risk appetite and lifted demand for safe-haven assets.
Business leaders highlight Dubai’s resilience amid global developments

Chairpersons of several country business councils operating under the Dubai Chamber of Commerce say the emirate is reinforcing its global reputation for resilience and agility amid global challenges.
India to withdraw temporary domestic airfare caps from Monday

India will revoke the temporary fare caps it had imposed on domestic air tickets from Monday, the country's civil aviation ministry said on Saturday.