Uber co-founder, former CEO Travis Kalanick severs last ties with company

Travis Kalanick, co-founder and the former CEO of Uber, is finally cutting his last ties with the company.

Kalanick is reportedly stepping down from his position on the company's board of directors and will sell his remaining shares in the company this week, The New York Times reports. Kalanick was ousted as Uber's CEO in 2017, and since then has sold more than $2 billion of his shares in the company, per the Times. His remaining shares will be sold on Thursday, and his departure from the board will be effective Dec. 31.

"Uber has been a part of my life for the past 10 years. At the close of the decade, and with the company now public, it seems like the right moment for me to focus on my current business and philanthropic pursuits," Kalanick said in a statement Tuesday.

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When Kalanick left his position in 2017, Uber was dealing with allegations of sexual harassment at the company, lawsuits, and a federal inquiry into a tool it used to avoid law enforcement.