Uber shareholders ask Benchmark to leave board


Uber shareholders ask Benchmark to leave board

Uber shareholders ask Benchmark to leave board:- Investors at Uber asked Benchmark Capital on Friday to step down from the company’s board of directors, according to a news report. The request comes a day after Benchmark sued former Uber CEO Travis Kalanick.

In an email-petition signed by Shervin Pishevar of Sherpa Capital, Ron Burkle of Yucaipa Companies and Adam Leber of Maverick Technologies, shareholders said Benchmark’s lawsuit “impede[s] the critical search for a new, world-class Chief Executive Officer,” according to news site Axios, which obtained a copy of the letter.

The shareholders also asked Benchmark to sell its shares so it didn’t have board appointment rights.

Benchmark filed a lawsuit against Kalanick Thursday, claiming the former CEO created additional seats on the board to “increase his power over Uber for his own selfish ends.”

A board of directors meeting was scheduled the day the email was sent.

Sherpa Capital, Yucaipa Companies, Maverick Technologies and Pishevar were not immediately available for comment. Uber declined to comment. Benchmark did not respond to request for comment.

Source:- https://www.usatoday.com/story/tech/news/2017/08/11/uber-shareholders-ask-benchmark-leave-board/560468001/



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