While Uber technologies (Uber) had tasted great success in the run-up to its planned IPO in 2019, its journey had been a bumpy one. On June 21, 2017, co-founder Travis Kalanick stepped down as CEO of Uber in the face of a shareholder revolt that made it u - Management
While Uber technologies (Uber) had tasted great success in the run-up to its planned IPO in 2019, its journey had been a bumpy one. On June 21, 2017, co-founder Travis Kalanick stepped down as CEO of Uber in the face of a shareholder revolt that made it untenable for him to stay on in that position. Kalanick’s resignation came after a review of practices at Uber that included allegations of sexual harassment, a corporate theft lawsuit, defiance of government regulations, reports of misbehavior, and a toxic corporate culture, leading to the departure of some key executives. In early 2018 Dara Khosrowshahi, the newly appointed CEO of Uber, faced numerous obstacles in the path of reaching Uber’s 2019 IPO objective: fixing Uber’s culture and helping it evolve some of its own core cultural practices to foster growth and improve stakeholder relationships; contending with lawsuits over a massive data security breach; working with a splintered board and ushering in corporate governance reforms; and regaining the confidence of Uber’s investors, employees, and customers. There are 2 accompanying videos
https://youtu.be/HU43KHdMgMw
https://youtu.be/42q4Kj1DNAw
Khosrowshahi, the newly appointed Uber CEO, has hired you as a strategic management consultant and asked you to prepare a report for him that focuses on the following items: • An assessment and analysis of Uber’s corporate culture prior to his arrival inclusive of the key features of the culture; • An analysis if what issues and/or problems need to be prioritized prioritize in order to rebuild and improve the culture at UBER; • An analysis of what he has completed thus far; and, • What additional actions he could take that would make an even greater contribution toward turning things around at UBER. Prepare a report for CEO Khosrowshahi focusing on these findings (4 single spaced pages maximum).
Chaos at Uber: The New CEOs Challenge (2018)
While Uber technologies (Uber) had tasted great success in the run-up to its planned
IPO in 2019, its journey had been a bumpy one. On June 21, 2017, co-founder Travis
Kalanick stepped down as CEO of Uber in the face of a shareholder revolt that made it
untenable for him to stay on in that position. Kalanick’s resignation came after a review
of practices at Uber that included allegations of sexual harassment, a corporate theft
lawsuit, defiance of government regulations, reports of misbehavior, and a toxic
corporate culture, leading to the departure of some key executives.
In early 2018 Dara Khosrowshahi, the newly appointed CEO of Uber, faced numerous
obstacles in the path of reaching Uber’s 2019 IPO objective: fixing Uber’s culture and
helping it evolve some of its own core cultural practices to foster growth and improve
stakeholder relationships; contending with lawsuits over a massive data security breach;
working with a splintered board and ushering in corporate governance reforms; and
regaining the confidence of Uber’s investors, employees, and customers.
There are 2 accompanying videos suggested by the case writers.
https://www.youtube.com/watch?v=HU43KHdMgMw
https://youtu.be/42q4Kj1DNAw
Assignment Question:
Dara Khosrowshahi, the newly appointed Uber CEO, has hired you as a strategic
management consultant and asked you to prepare a report for him that focuses on the
following items:
• An assessment and analysis of Uber’s corporate culture prior to his arrival
inclusive of the key features of the culture;
• An analysis if what issues and/or problems need to be prioritized prioritize in
order to rebuild and improve the culture at UBER;
• An analysis of what he has completed thus far; and,
• What additional actions he could take that would make an even greater
contribution toward turning things around at UBER.
Prepare a report for CEO Khosrowshahi focusing on these findings (3-4 pages
maximum).
tho75109_case31_C392-C405.indd C-392 12/18/18 07:52 PM
Chaos at Uber: The New
CEO’s Challenge
Syeda Maseeha Qumer
ICFAI Business School, Hyderabad
Debapratim Purkayastha
ICFAI Business School, Hyderabad
“I have to tell you I am scared,”
1 wrote Dara
Khosrowshahi, newly appointed CEO of ride-
hailing service Uber Technologies Inc., in a
memo to his former team at Expedia, Inc.2 Besides
growing Uber’s business, analysts said Khosrowshahi
had the task of changing the dysfunctional culture
within the company and improving corporate gov-
ernance that had cost co-founder and former CEO
Travis Kalanick his job. On June 21, 2017, Kalanick
stepped down as CEO of Uber in the face of a share-
holder revolt that made it untenable for him to stay
on in that position. His resignation came after a
review of practices at Uber including allegations of
sexual harassment, a corporate theft lawsuit, defi-
ance of government regulations, reports of misbe-
havior, and a toxic corporate culture leading to the
departure of some key executives.
Uber’s corporate structure ensured that its
founders held super-voting shares and had dispro-
portionate control over the company. Kalanick,
because of the special class of shares he owned,
enjoyed sweeping authority on the Uber board and
nearly complete autonomy in running the company.
According to some industry observers, Uber ignored
corporate governance in its pursuit of growth and
valuation, and flouted ethical norms while hiding
behind notions of disruption and innovation. This
was fine with investors until the beginning of 2017
when the company’s public image crumbled amid
allegations of sexual harassment, they said. “The
board chose to ignore the fundamentals of their gover-
nance role and failed to provide guidance in correcting
a trait which would ultimately endanger the company in
many ways.”3 said Prabal Basu Roy, a fund manager.
The chaos inside Uber’s boardroom escalated
in August 2017 when a small group of sharehold-
ers aligned with Kalanick dissented against Uber’s
biggest investor Benchmark Capital,4 after it filed a
lawsuit to oust Kalanick from the board. Benchmark
Capital had accused Kalanick of fraud and of inter-
fering in the search for a new CEO—accusations that
he had denied. Some analysts felt that Uber’s board
needed to grow up as the constant bickering among
the members was hurting the company. According to
them, the board’s aggressive infighting was spreading
confusion and uncertainty among Uber’s investors,
customers, and shareholders, and putting the com-
pany’s nearly $70 billion market valuation at risk.
As Khosrowshahi began his new role at Uber,
he had the daunting task of dealing with a fraught
Uber board and mending the frayed relations among
investors. “Boards are so unpredictable, and this one
seems as if they’re at each other’s throats. It’s hard to
know if he’ll have the force of personality to navigate
that,”5 said Alice Armitage, director of Startup Legal
Garage.6 Khosrowshahi would have to figure out a
way to unite the divided board and end the acrimony
among them. Moreover, he would also have to con-
tend with the legacy of Kalanick who continued to
remain on the Uber board.
Khosrowshahi said that as Uber’s CEO he
wanted to set the course for the future of the company,
which included innovating and growing responsibly
as well as acknowledging and correcting mistakes of
the past. He planned to take the company public by
CASE 31
©IBS Center for Management
Research
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Case 31 Chaos at Uber: The New CEO’s Challenge C-393
2019. “The culture went wrong, and the governance of
the company went wrong and the board went in a very
bad direction. But if the product is good, then if you can
bring in good leadership, you can ultimately bring it
together,”7 he said. However, some analysts wondered
if the company valued at around $68 billion as of
January 2018 could maintain its valuation as it pre-
pared for an IPO.
BaCKGROUND NOTe
Uber was co-founded by Kalanick8 and Garrett Camp9
in 2009. The duo was in Europe attending LeWeb, an
annual European tech conference. On a snowy night
in Paris, Kalanick and Camp could not get a cab. This
was when the two came up with the idea of launching
an on-demand car-service app. After getting back to
San Francisco, Camp convinced Kalanick to partner
with him in the new project that could fill the large
and lucrative gap in the car service market.
UberCab, as it was then known, started its service
in San Francisco in the summer of 2010 with only a few
cars, a handful of employees, and a small seed round.
After entering credit-card information on the app,
customers could book a car at the press of a button.
The cost was automatically charged to the customer’s
account. Uber required its drivers to have their own car
and to pass a background check. In August 2010, Ryan
Graves, Uber’s first hire, was briefly appointed as CEO
of the company. In October 2010, the company was
renamed Uber after some regulatory bodies objected to
the use of “cab” in UberCab’s name as the entity was
operating without a taxi license. Uber closed a $1.25
million seed funding in 2014. Chris Sacca of First
Round Capital was its first institutional investor and
he invested about half a million dollars in the company.
Other investors included Napster co-founder Shawn
Fanning, venture capital fund Lowercase Capital, and
venture capitalist Mitch Kapor.
In December 2010, Graves stepped down
as CEO and Kalanick stepped into the position.
Graves stayed on as Uber’s head of global opera-
tions. In February 2011, Uber closed an $11 million
Series A funding round that valued the company at
$60 million (see Exhibit 1). Benchmark Capital led
the round and its partner Bill Gurley joined Uber’s
Board of Directors. In May 2011, Uber was launched
in New York City and thereafter it expanded to
Seattle, Boston, Chicago, and Washington D.C.
In December 2011, Uber raised $32 million in its
Series B of fund raising from Amazon Inc’s CEO Jeff
Bezos, Menlo Ventures, and Goldman Sachs. In July
2012, Uber unveiled its low-cost “Uber X” service.
In August 2013, Uber entered India and Africa, and
closed a Series C funding round which saw a massive
$258 million investment from Google Ventures. In July
2014, Uber entered China after a $1.2 billion funding
round. In August 2014, Uber launched its UberPOOL
service. Notwithstanding strikes by angry taxi driv-
ers over Uber threatening their livelihood and break-
ing local taxi rules, and unresolved questions of legal
liability, the cab service expanded rapidly. The company
continually rolled out new services from freight and
helicopter rides to food delivery to driverless cars.
Uber upended the tightly regulated taxi industry
in many countries and changed the transportation
landscape. In 2016, its gross bookings hit $20 billion,
double that of the previous year (see Exhibit 2).
As shown in Exhibits 3 and 4, net revenues were
$6.5 billion for 2016, although losses were high
at $2.8 billion. As of 2017, Uber had a presence in
724 cities in more than 84 countries.10 With a valua-
tion of nearly $68 billion, it was by far the richest of
the Silicon Valley’s private unicorn technology com-
panies (see Exhibit 5).
Analysts said that while Uber had tasted great
success, its journey had been a bumpy one. According
to them, the company was synonymous with contro-
versies. Since its launch, Uber had been the subject of
ongoing protests from taxi drivers and regulatory bod-
ies who argued that the company should be subjected
to the same regulations that they faced. From non-
compliance issues to regulatory concerns and lack of
driver background checks, Uber drew scrutiny and
criticism. The service was banned in The Netherlands
and in parts of Thailand and China. Uber’s surge pric-
ing had been one of the most controversial aspects
of the company’s business model. Customers equated
it with price gouging as it took advantage of users in
unfortunate situations. Uber had also been embroiled
in a long-standing battle with some labor organiza-
tions as it classified its drivers as independent con-
tractors and not employees, which deprived them of
various benefits. There had also been cases of sexual
assault on passengers, which some activists said hap-
pened because the background checks on drivers had
not been stringent enough. Uber’s critics went to the
extent of saying that the company ignored ethical and
legal standards in the name of disruption and valued
money, power, and control above morality.
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C-394 PaRT 2 Cases in Crafting and Executing Strategy
EXHIBIT 1 Uber Funding Rounds
Date Amount/Round
Valuation
($ billion) Lead Investor Investors
April 2017 Undisclosed Amount — — 1
July 2016 $1.15 billion/Debt Financing — Morgan Stanley 4
June 2016 $3.5 billion/Series G — Saudi Arabia’s Public Investment Fund 1
May 2016 Undisclosed Amount/Series G — — 1
Feb 2016 $200 million/Private Equity — Letterone Holdings SA 1
Aug 2015 $100 million/Private Equity — Tata Capital 1
July 2015 $1 billion/Series F — — 6
Feb 2015 $1 billion/Series E — Glade Brook Capital Partners 9
Jan 2015 $1.6 billion/Debt Financing — Goldman Sachs 1
Dec 2014 $1.2 billion/Series E 40.0 Glade Brook Capital Partners 8
June 2014 $1.4 billion/Series D 18.2 Fidelty Investments 9
Aug 2013 $363 million/Series C 3.5 GV 4
Dec 2011 $37 million/Series B — Menlo Ventures 11
Feb 2011 $11 million/Series A 0.06 Benchmark Capital 6
Oct 2010 $1.25 million/Angel — First Round 29
Aug 2009 $200 thousand/Seed — Garrett Camp
Travis Kalanick
2
Source: Crunchbase.
EXHIBIT 2 Uber Gross Bookings (Q1 2015–Q3 2016) ($ in millions)
$0.00
$1,512
$2,149
$3,800
$5,000
$5,400
$2,000.00
$3,000.00
$4,000.00
$5,000.00
$6,000.00
$1,000.00
*Q3 2015: data not available
Q1 2015 Q2 2015 *Q3 2015 Q12016 Q22016 Q32016
Source: www.businessinsider.com.
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Case 31 Chaos at Uber: The New CEO’s Challenge C-395
EXHIBIT 3 Uber Quarterly Net Revenues, 2012–2016 ($ in millions)
$
1
$0
Q
1’
12
Q
1’
14
Q
2’
14
Q
3’
14
Q
4’
14
Q
1’
15
Q
2’
15
Q
3’
15
Q
4’
15
Q
1’
16
Q
2’
16
Q
3’
16
Q
4’
16
Q
1’
13
Q
2’
13
Q
3’
13
Q
4’
13
Q
2’
12
Q
3’
12
Q
4’
12
$100
$200
$300
$400
$500
$600
$700
$800
$900
$1,000
$1,100
$1,200
$1,300
$1,400
$1,500
$1,600
$1,700
$1,800
$
2
$
4
$
8
$
1
3
$
1
9
$
2
9
$
4
2
$
4
6
$
5
7 $
1
1
4 $
2
2
8
$
2
7
4 $
3
8
9 $
4
6
7 $
5
6
0
$
9
6
0
$
1
,1
0
0
$
1
,3
2
0
$
1
,5
8
4
Source: www.investing.com/analysis/2017-39;s-uber-ipo-200170565.
Q
1’
12
Q
1’
14
Q
2’
14
Q
3’
14
Q
4’
14
Q
1’
15
Q
2’
15
Q
3’
15
Q
4’
15
Q
1’
16
Q
2’
16
Q
3’
16
Q
4’
16
Q
1’
13
Q
2’
13
Q
3’
13
Q
4’
13
Q
3’
12
Q
2’
12
Q
4’
12
$0
$
4
$
4
$
5
$
7
$
7 $
8
$
1
2
$
1
8 $
5
2 $
1
0
9 $
1
7
5 $
2
5
0
$
3
8
5
$
6
0
2
$
4
5
0
$
5
0
0
$
5
2
0
$
7
5
0
$
7
5
0
$
7
5
0
$50
$100
$150
$200
$250
$300
$350
$400
$450
$500
$550
$600
$650
$700
$750
$800
$850
$900
EXHIBIT 4 Uber Quarterly Losses, 2012–2016 ($ in millions)
Source: www.investing.com/analysis/2017-39;s-uber-ipo-200170565.
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C-396 PaRT 2 Cases in Crafting and Executing Strategy
EXHIBIT 5 Top 10 Privately Owned Technology Unicorns in the World
(as of august 2017)
Rank Company
Latest Valuation
($ in billions)
Total Equity Funding
($ in billions) Last Valuation
1 Uber $68.0 $12.9 June 2016
2 Didi Chuxing 50.0 15.1 April 2017
3 Xiaomi 46.0 1.4 December 2014
4 Airbnb 31.0 3.3 March 2017
5 Palantir 20.0 1.9 October 2015
6 WeWork 20.0 4.4 July 2017
7 Lufax 18.5 1.7 December 2015
8 Meituan-Dianping 18.3 4.4 January 2016
9 Pinterest 12.3 1.5 June 2017
10 SpaceX 12.0 1.1 January 2015
Source: http://graphics.wsj.com/billion-dollar-club/?co=Uber.
UBeR’s CORPORaTe
sTRUCTURe
Uber followed a “founder-friendly” governance struc-
ture wherein some board seats carried more voting
power than others. In this kind of a dual-class share
structure, one class of shares carried one vote while
the other class shares came with 10 votes each or
more. According to Uber’s articles of incorporation,
the company had 11 board seats, 9 of which were
controlled by shareholders with super-voting rights.
Co-founders Kalanick and Camp along with long-
time Uber employee Graves held super-voting shares
and controlled a majority of shareholder votes. The
trio held sway over company decisions leaving other
independent directors who were mostly outsiders
with fewer rights and little influence.
Kalanick who had a larger stake in the com-
pany compared to Camp and Graves owned a spe-
cial class of voting stock that gave him control over
Uber irrespective of what percentage of shares he
owned. He reportedly held approximately 10 percent
of Uber’s stock, including approximately 16 percent
of its voting power and 35 percent of its Class B com-
mon stock. According to Davey Alba, a tech writer,
“It just so happened that at the time VCs were flush
with cash, Uber was the hottest investment opportunity.
So it raised gobs of money without having to dilute
Kalanick’s power on the board. Investors just wanted to
get a stake.”11
As of 2016, Kalanick had kept the Uber board
small, leaving four board seats empty as shown in
Exhibit 6. At the end of 2016 Cheng Wei, founder
and chairman of Chinese ride-hailing service Didi
Chuxing (Chuxing) joined Uber’s board after Uber
sold its China operations to Chuxing in exchange for
the company investing $1 billion in Uber.
THe CRIsIs UNFOLDs
The crisis at Uber began in February 2017 when
Susan Fowler, a former software engineer at Uber,
went public with her account of sexual harassment,
discrimination, and extensive sexism inside the com-
pany. In a blog post, she described how the human
resources department had ignored her complaints,
which included being propositioned by her manager.
Fowler wrote that even after she had lodged a com-
plaint with HR and higher management, she was told
the manager was a “high performer” and he would not
be disciplined for his actions. Fowler’s account was
allegedly so condemning that it inspired other women
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Case 31 Chaos at Uber: The New CEO’s Challenge C-397
EXHIBIT 6 Uber Board of Directors (as of 2016)
As of 2016
Travis Kalanick
Garrett Camp
Yasir Al Rumayyan
Ryan Graves
Bill Gurley
David Bonderman
Arianna Hu�ngton
Co-founder
Co-founder
Chief Executive of Saudi Arabia’s Public Investment Fund
SVP of Global Operations, Uber
General Partner at venture capital firm Benchmark Capital
Co-founder of private Equity Fund TPG Capital
Founder of media platform Hu�ngton Post
Four Empty Board Seats
Matt Cohler (replaced Gurley)
Wan Ling Martello
David Trujillo (replaced Bonderman)
Cheng Wei
General Partner at Benchmark Capital
Executive Vice President for Asia, Oceania, and sub-Saharan Africa at Nestlé
Partner at TPG Capital
Co-Founder & CEO of Chinese ride-hailing service Didi Chuxing
As of August 2017
New CEO
Khosrowshahi
Garrett
Camp
Ryan
Graves
Matt
Cohler
Wan Ling
Martello
David
Trujillo
Cheng
Wei
Open SeatTravis
Kalanick
Arianna
Hu�ngton
Yasir Al
Rumayyan
CEO Travis
Kalanick
Garrett
Camp
Ryan
Graves
Bill
Gurley
David
Bonderman
Arianna
Hu�ngton
Yasir Al
Rumayyan
employees at Uber to come forward with their own
stories. This eventually led to at least 200 claims of
sexual harassment against the company. Fowler also
wrote about the organizational chaos at Uber saying
that there was a “Game of Thrones” kind of a politi-
cal war raging within the ranks of the upper man-
agement. According to her, projects were frequently
abandoned and Objectives and Key Results (OKRs)
were changed multiple times each quarter.12
Earlier in January 2017, Uber was accused of
undermining a taxi union strike at JFK airport in
New York protesting United States President Donald
Trump’s refugee ban.13 Subsequently, more than
200,000 users uninstalled their Uber accounts as
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C-398 PaRT 2 Cases in Crafting and Executing Strategy
use of a secret software tool called “Greyball” that
used data collected from the Uber app and other
techniques to identify and evade government offi-
cials who were trying to clamp down on Uber in
areas where its service had not yet been approved.
Analysts said the controversies took a toll on
Uber’s management team as several of the compa-
ny’s key executives either resigned or were forced out.
Since the start of 2017, 13 high-profile executives had
reportedly departed, and Uber had yet to fill many of
those roles (see Exhibit 7). Key executive positions
including the post of COO, CFO, president, general
counsel, and senior vice president of engineering
were left vacant at the company.
For quite some time, the corporate culture at
Uber had been under attack. Critics alleged that
the company had a “bro culture” enabled by the top
management—covering up sexual harassment at the
workplace and cutting ethical corners. One Uber
manager, who was later fired, was said to have groped
several female co-workers at a company retreat in
Las Vegas. Another manager had reportedly threat-
ened to beat an underperforming employee’s head in
with a baseball bat. The ride hailing service was also
accused of using a woman’s confidential medical
record to contradict her claims that she was raped
by an Uber driver in India. An internal email leaked
part of the #DeleteUber campaign triggered by
Kalanick’s decision to be a part of Trump’s business
advisory council. Kalanick subsequently resigned
from the council.
In February 2017, Google’s parent company
Alphabet’s self-driving arm Waymo filed a lawsuit
against Uber for theft of trade secrets and intellectual
property. Alphabet alleged that one of its former exec-
utives, Anthony Levandowski, had decamped with
14,000 confidential files related to self-driving car
technology that he had downloaded onto an external
hard drive. He later started his own self-driving truck
company, Otto, which Uber acquired in August 2016.
Thereafter, Levandowski was appointed as the head
of Uber’s self-driving car program. Alphabet claimed
that Uber was using the stolen documents that
Levandowski had allegedly taken to advance its self-
driving technology. Though Uber fired Levandowski
in May 2017, experts said the move would not protect
the company from the explosive charges contained in
the lawsuit.
To add to its list of problems, Kalanick was
caught on a dashcam video berating an Uber driver
for questioning him about the company’s treatment
of drivers. The video went viral, prompting Kalanick
to apologize. In May 2017, the U.S. Department of
Justice launched a criminal investigation into Uber’s
EXHIBIT 7 Top executive Departures at Uber
Name of the Executive Designation
Jeff Jones Uber President
Ryan Graves SVP Global Operations
Emil Michael SVP of Business
Amit Singhal Senior Vice President of Engineering
Raffi Krikorian Senior Director of Engineering at Advanced Technologies Center
Charlie Miller Senior Engineer of Uber’s Autonomous Driving Division
Ed Baker Vice President of Product and Growth
Gary Marcus AI Labs director
Brian McClendon Vice President of Maps
Rachel Whetstone Head of Policy and Communications
Anthony Levandowski Head of Uber’s self-driving car unit
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Case 31 Chaos at Uber: The New CEO’s Challenge C-399
in 2013 said Kalanick had allegedly instructed
Uber employees at a company party on the ground
rules for partying and having sex with co-workers.
According to some Uber employees, the culture at
the company was aggressive and demanding with
emphasis on hustling, toe-stepping, and meritocracy.
“This is a company where there has been no line that
you wouldn’t cross if it got in the way of success,”14 said
Hadi Partovi, an Uber investor.
However, the final nail in the coffin was the blog
post by Fowler. Calling the behavior meted out to
Fowler “abhorrent & against everything we believe in,”
Kalanick tweeted that “anyone who behaves this way or
thinks this is OK will be fired.”15 He announced that the
company would launch an independent investigation
into Fowler’s claims. He hired former U.S. attorney
general Eric H. Holder Jr. and his colleague Tammy
Albarrán, partners at the law firm Covington &
Burling LLP, to probe the matter and conduct a review
of Uber’s corporate culture. On March 1, 2017, Uber’s
Board of Directors unanimously approved a resolution
establishing a Special Committee of the Board16 to
look into the allegations. The team also involved board
member Arianna Huffington and the company’s newly
appointed human resources chief, Liane Hornsey.
Meanwhile, Uber investors Freada Kapor Klein
and Mitch Kapor wrote an open letter to Uber’s
board and investors criticizing the company for
choosing a team of insiders to investigate the matter.
According to them, Holder had previously worked on
Uber’s behalf to advocate the company’s concerns
while Huffington was on the board of the company.
Hornsey reported to the executive team. “We are
disappointed to see that Uber has selected a team of
insiders to investigate its destructive culture and make
recommendations for change. To us, this decision is yet
another example of Uber’s continued unwillingness
to be open, transparent, and direct,”17 they wrote. In
response to the letter, the review committee said it
would conduct the investigation impartially.
THe HOLDeR RePORT
On June 13, 2017, Uber released the results of the
highly anticipated internal investigation. Lack of
oversight and poor governance were some of the key
issues running through the findings of the report.
The Holder report specifically identified Kalanick
as part of the problem as the first line of the report
read, “Review and Reallocate the Responsibilities of
Travis Kalanick.” The report in total made 47 recom-
mendations including emphasizing more on diversity
and companywide performance reviews, and install-
ing an independent chair and oversight committee to
handle ethics issues. In the area of corporate gover-
nance, the report advised that the board should have
greater independence and the additional board mem-
bers should be directors with meaningful experience
on other boards and should exercise independent
oversight of Uber’s management.
The same day, Kalanick in an email to employ-
ees announced that that he was taking time off to
mourn his mother, who was killed in a boating acci-
dent. Kalanick said the company would be run by
an executive committee and that he would be avail-
able if needed. Uber’s SVP and business leader Emil
Michael, a close confidante of Kalanick who had
reportedly been pressured to resign following the
investigation, also left the company. In addition, at
least 20 other employees were fired as a result of a
separate investigations related to sexual harassment
and discrimination by law firm Perkins Coie.
Uber’s board unanimously decided to adopt all
the recommendations for improving corporate gov-
ernance including sexual harassment prevention and
improving workplace diversity. However, during the
meeting, Uber board member David Bonderman
made a sexist remark18 and had to resign thereafter.
David Trujillo, a partner at the private equity firm
TPG Capital, replaced Bonderman. Also, Uber
appointed Nestlé executive Wan Ling Martello
(Martello) to the board. She was the second woman
after Huffington to serve as an Uber Director.
INVesTORs ReVOLT
When Uber became embroiled in a series of legal and
ethical scandals, the investors who until then saw
little wrong with Kalanick’s aggressive antics became
suddenly combative. They felt that their investment
in Uber was at risk and started agitating for change
at the top as the #DeleteUber campaign and Fowler’s
complaints gained traction. Exhibit 8 illustrates the
impact of the scandals on Uber’s market share. The
Board of Directors, who were under fire themselves,
decided to replace Kalanick but that was easier said
than done. According to Richard Mahony, an expert
in communication strategy and investor relations,
“[Kalanick’s super-voting shares] has made the task of
removing him much more complicated. It took a former
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tho75109_case31_C392-C405.indd C-400 12/18/18 07:52 PM
C-400 PaRT 2 Cases in Crafting and Executing Strategy
connections) at last found their voice, he had little choice
but to step down. Quite simply, he needs their money.”20
Kalanick, however, continued to serve on Uber’s
Board of Directors. “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,”21 he said in a statement.
A day after his resignation, Gurley, who pushed
Kalanick to leave, resigned from the Uber board. He
was replaced by his colleague, Matt Cohler, also a
partner at Benchmark Capital.
CORPORaTe GOVeRNaNCe
FIasCO
Experts attributed the root of Uber’s problems to
weak corporate governance marked by a rapid chase
after growth, the cult of Kalanick, and the company’s
failure to address workplace issues. They felt that
Uber’s Board of Directors did not care about gover-
nance issues and let Kalanick run the company the
way he did as long as profits were generated and
attorney general and a nearly constant stream of media
leaks to pry Mr. Kalanick out of his seat.”19
Five of Uber’s major investors—Benchmark
Capital, First Round Capital, Lowercase Capital,
Menlo Ventures, and Fidelity Investments—which
together controlled 40 percent of the company’s
votes and owned more than a quarter of Uber’s
stock, demanded Kalanick’s resignation. In the letter
titled “Moving Uber Forward,” the investors wrote
to Kalanick that he must immediately leave. On the
other hand, some Uber board members including
Camp and Huffington extended support to Kalanick
as they believed that his leadership was necessary
for Uber to survive in the aggressive taxi industry.
Huffington even attested to Kalanick’s willingness
to change. The shareholders’ unrest, however, made
it untenable for Kalanick to stay on at the company.
Finally, after hours of negotiations and consultations
with his confidants, Kalanick agreed to step down on
June 21, 2017. According to Fast Company’s Ainsley
Harris, “Kalanick held on to Uber’s reins in the face of
scandal after scandal—sexual harassment, discrimina-
tion, obstruction of regulatory enforcement, privacy vio-
lations. But when shareholders (with checkbooks and
EXHIBIT 8 Impact of senior Leadership scandals on Uber’s U.s. Market share
90.00%
80.00%
70.00%
60.00%
50.00%
40.00%
30.00%
20.00%
10.00%
0.00%
Before #deleteuber
campaign
(Week up to Jan 29)
20.9% 21.3%
79.1%
83.5%
After #deleteuber
campaign
(Week up to Feb 19)
Following Susan
Fowler Story
(Week up to Feb 24)
Uber Lyft
78.7%
16.5%
Source: TXN Solutions.
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tho75109_case31_C392-C405.indd C-401 12/18/18 07:52 PM
Case 31 Chaos at Uber: The New CEO’s Challenge C-401
investors and the board members asking Benchmark
Capital to withdraw the lawsuit, divest its shares, and
step down from Uber’s board. According to them, the
tactics of Benchmark Capital were “ethically dubious
and, critically, value-destructive rather than value
enhancing.”27 They accused Gurley of holding Uber
hostage to a public relations disaster by demand-
ing Kalanick’s resignation. Calling it a “fratricidal”
move against Kalanick, the investors said the lawsuit
could harm Uber’s valuation, risk the company’s abil-
ity to raise funds, and hinder the …
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