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

UAE to develop a defence industrial free zone in Abu Dhabi

Al Selmiyyah, a suburb in Abu Dhabi, will turn into a zone that will be dedicated to advancing defence manufacturing in the UAE.
Apple settles lawsuit over late Siri AI features for $250 million

Apple has settled for $250 million on Tuesday in a shareholder lawsuit brought after the company delayed artificial-intelligence upgrades to its Siri voice assistant.
UAE plans to establish global defence manufacturing hub

The UAE is planning to establish a global defence manufacturing hub in partnership with South Korea’s LIG Defense and Aerospace.
UAE signs contract to purchase C-390 Millennium aircraft for air force

His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, and Chairman of the Presidential Court, has witnessed the signing of a contract to purchase C-390 Millennium aircraft for the UAE air force.
'Make it in the Emirates' sees strong local, international turnout

His Highness Sheikh Mansour bin Zayed Al Nahyan, UAE Vice President, Deputy Prime Minister and Chairman of the Presidential Court, attended the opening of the fifth edition of 'Make it in the Emirates' on Monday.

UAE condemns hostile Iranian statements
The UAE has strongly condemned a recent statement issued by Iran’s Foreign Ministry, and rejected allegations and threats targeting the country’s sovereignty, national security and independent decision-making.
UAE, Ghana leaders discuss economic growth, regional developments
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has met with the President of Ghana, John Dramani Mahama, who is on a working visit to the UAE.
UAE President marks Armed Forces unification anniversary with message of strength, unity
In a statement marking the 50th anniversary of the unification of the UAE Armed Forces, President His Highness Sheikh Mohamed bin Zayed Al Nahyan said the nation’s strength lies in its military, the unity of its society and the resilience of its development model.