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Uber board seeks to limit Kalanick’s power (San Francisco Chronicle)

October 03, 2017

Uber’s deeply divided board of directors meets today and the agenda includes governance changes that would lessen ousted CEO Travis Kalanick’s power as both a shareholder and director of the human cloud ride-sharing firm, the San Francisco Chronicle reports. The board will also decide whether Uber should sell $10 billion worth of stock to SoftBank. In a power-play ahead of the crucial meeting, Kalanick late Friday appointed two new directors to the board — former Xerox CEO Ursula Burns and former Merrill Lynch CEO John Thain — without warning to anyone.