Uber CEO Travis Kalanick resigns

Kalanick resigned days after saying he would take an indefinite leave of absence as former U.S. Attorney General Eric Holder released recommendations on how Uber could improve its business culture.
2:35 | 06/21/17

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Transcript for Uber CEO Travis Kalanick resigns
To you to that breaking news, Uber CEO Travis kalanick resigning overnight amid recent scandals. And Rebecca Jarvis has been on it from the very beginning. Has the latest details. Good morning, Rebecca. Reporter: Good morning. Just last week Uber's CEO told employees he would be taking a temporary leave to become the leader that this company needs and that you deserve but this morning, under pressure, kalanick announced his departure is permanent. This morning, Uber's CEO Travis kalanick succumbing to pressure from at least five Uber investors who demanded his resignation from the ride sharing company valued at nearly $70 billion. The embattled CEO releasing a statement overnight, "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." The surprise announcement comes one week after kalanick said he would be taking a temporary leave of absence following the death of his mother and in the wake of companywide changes following Eric Holder's investigation into Uber's corporate culture and claims of rampant sexual harassment. This year Uber's had a series of pr setbacks from allegations of sexual harassment to the CEO berating a driver in the back of an Uber to another e-mail that came out that talked about a party like culture so this is not a good thing for the company. Not good timing. Not good optics. Reporter: In 2013 at a company retreat kalanick e-mailed staffers do not have sex with another employee unless the two or more of you do not work in the same chain of command. The next year in a magazine he referred to the company as boober as he discussed his burgeoning fame made it easy for him to meet women. After this video of him arguing with one of his drivers' pay surfaced. I take responsibility. They blame everything in their life on somebody else. Good luck. Good luck to you too. Reporter: Kalanick later apologized to that driver and in a note to all of his employees after the incident surfaced wrote I must fundamentally change as a leader and grow up. This is the first time I've been willing to admit that I need leadership help and I intend to get it. As an owner of 30% of Uber's shares, kalanick will remain on its board of directors. You talk about the employees. What about them and the company now? That is the biggest concern, 14,000 Uber employees, a million drivers around the world. The number one key here is a new leadership team for the company. You've been on it from the very beginning. All right, thanks so much. Rebecca.

This transcript has been automatically generated and may not be 100% accurate.

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