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Ryan Graves was once Uber’s first full-time CEO and worker, who was once ultimate senior vp of worldwide operations earlier than pronouncing he would step down in August 2017. Graves stated at the moment he would stay at the board right through the seek for the substitute of his CEO successor, Travis Kalanick.
Uber
Uber stated in a Friday submitting that Ryan Graves, its first worker, is leaving the corporate’s board, efficient Monday.
Graves was once the corporate’s first CEO, employed by way of Travis Kalanick after he answered to a Kalanick Tweet in quest of a “Having a look four entrepreneurial product mgr/biz-dev killer four a location based totally carrier.” He stepped down from his place as senior vp of worldwide operations in 2017.
The submitting says:
On Would possibly 23, 2019, Ryan Graves knowledgeable Uber Applied sciences, Inc. (the “Corporate”) of his purpose to renounce as a member of the Corporate’s board of administrators, efficient as of Would possibly 27, 2019, together with any committees of the board of administrators on which he serves. Mr. Graves’ resignation was once no longer the results of any confrontation between Mr. Graves and the Corporate, its control, board of administrators or any committee thereof, or with appreciate to any subject on the subject of the Corporate’s operations, insurance policies or practices.
The submitting features a word to the board from chair Ron Sugar:
“Ryan was once one of the vital key individuals who assisted in shaping Uber into the corporate that it’s these days. As a considerate and engaged director, Ryan has persevered so as to add price to Uber, providing insights and judgements that experience helped us navigate the usaand downs of the trade as we have now grown over the last decade. Whilst this can be a bittersweet second, we settle for his private choice that that is the precise time for him to step down. Dara and I are thankful for his contributions to Uber’s luck and need him the entire easiest going ahead.”
Graves is leaving the board virtually two years after Uber named Dara Khosrowshahi as its new CEO.
The announcement comes simply two weeks after the ride-sharing corporate made its debut at the New York Inventory Alternate, remaining at $41.57 according to proportion, for a decline of seven.6%. On Friday the inventory closed at $41.51 according to proportion at a valuation above $69 billion.
“Mr. Graves was once decided on to serve on our board of administrators as a result of his revel in as one of the vital early leaders of our corporate, and as such, his innovation, generation, and high-growth revel in, in addition to his client and virtual revel in,” Uber stated within the prospectus for its preliminary public providing.
Within the prospectus Uber stated it had purchased greater than 1.1 million stocks of the corporate’s inventory from Graves. Following the IPO he owned 1.nine% of Uber, in line with the prospectus.
Graves, who has served at the Uber board’s repayment committee, is now founder and CEO of Saltwater Capital, which has invested in firms like Calm and Equator Coffees & Teas.
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