The investors' ultimatum, first reported by Axios, came amid a sexual harassment scandal as well as numerous other controversies in recent months. "Five of Uber's major investors demanded that the chief executive resign immediately," the Times wrote. "The investors included one of Uber's biggest shareholders, the venture capital firm Benchmark, which has one of its partners, Bill Gurley, on Uber's board. The investors made their demand for Mr. Kalanick to resign in a letter delivered to the chief executive while he was in Chicago, said the people with knowledge of the situation."
It's not yet known who will replace Kalanick, who will remain on Uber's board, as CEO.