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profishingrods.com December 15, 2017


Uber's Graves To Leave Operations Role Adding to Executive Shakeup

10 August 2017, 11:14 | Cameron Gross

Krales The Verge

Krales  The Verge

Graves steps down from the executive team as the company is still searching for a chief executive, after former CEO Travis Kalanick stepped down. The complaint, which was filed in DE court, accuses Kalanick of "fraud, breach of contract and breach of fiduciary duty".

In a lawsuit filed in DE on Thursday, the San Francisco-based venture capital firm, which holds an Uber board seat, accused Kalanick, the company's co-founder, of engaging in a power play to get himself reinstated as CEO.

Benchmark's lawsuit exemplifies the level of chaos within Uber's ranks as the $69 billion company has continued its search for a new CEO. The firm refers to both sexual harassment at Uber and the lawsuit Uber faces over stealing self-driving technology from Google. This is a reference to the ongoing lawsuit between Uber and Alphabet, the latter accusing the former of stealing its self-driving vehicle secrets.

An Uber spokesman did not immediately respond when asked to confirm the move.




If Benchmark Capital's lawsuit is successful, Kalanick would be kicked off of Uber's board of directors. The VC firm pushed, ultimately successfully, for Kalanick's resignation in June.

In his email to staff, Graves acknowledged that Uber itself was going through a bumpy transition, but he also framed the company's recent fall from grace as an opportunity to turn things around.

Uber declined to comment. Here's a copy of the complaint.



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