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Uber CEO Travis Kalanick resigns under pressure

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Travis Kalanick, who took a leave of absence last week, resigned as Uber CEO on Tuesday evening. The move, first reported by the New York Times, came after a group of significant investors in the ride-hailing company had been seeking his ouster, as Axios reported earlier on Tuesday night.

What happened: Over the last few months, Uber had been embroiled in a series of controversies, including allegations of sexual harassment and discrimination that triggered a pair of investigations by law firms, and a trade secret theft lawsuit by Alphabet's self-driving car unit. Last week, Uber's board pressured Kalanick's second in the command to resign and fired more than 20 employees following investigations into its workplace issues.

What's next: Kalanick will remain on the board of directors, according to the NY Times, though the company will now have to find his replacement. It also still has to hired a slew of other executives, including a COO and CFO.