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Uber founder resigns as CEO

Uber's founder Travis Kalanick has officially resigned as CEO

Travis Kalanick: "I love Uber more than anything in the world."
Travis Kalanick: "I love Uber more than anything in the world."

Travis Kalanick has announced that he has stepped down as chief executive officer of Uber, the ride hailing service he founded in 2009.

The New York Times has reported that Kalanick came under pressure as five of Uber's investors insisted he resigned with immediate effect. In a letter the investors expressed their demands, citing that the company needs a change in leadership.

Kalanick said in a statement: "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 will remain on Uber's board of directors.

Related: Uber's CEO takes indefinite leave of absence