As you've probably heard by now, Travis Kalanick has resigned as CEO of Uber after a group of investors yesterday sent a letter asking for his resignation.
- Uber's troubled COO search now becomes its gold-plated CEO search: Some possible candidates that come immediately to mind include Jeff Immelt, Meg Whitman, Mark Fields, Sheryl Sandberg and Adam Bain.
- Why it matters: Venture capitalists once had a reputation for canning CEOs, but that was left behind in this "founder friendly" era. Each of the participating firms took a big reputation risk here when it comes to future deal-flow, despite how the chattering class seems to think removing Kalanick was a no-brainer.
- I'm still a bit unclear on how this went down: Remember that Kalanick technically controlled Uber's board of directors, so long as Garrett Camp (Uber's founder and chairman) and Ryan Graves (Uber's first employee and SVP of global ops) remained in his corner. (More below the fold)