Venture capitalist Bill Gurley, whose firm Benchmark was one of Uber's earliest investors, has stepped off the ride-hailing company's board and will be replaced by fellow Benchmark partner Matt Cohler, who helped broker Benchmark's original investment in Uber. Bloomberg first reported the move, which Axios has confirmed.
Why: Gurley for years was a vocal supporter of Uber and CEO Travis Kalanick, but yesterday was part of the group of investors who requested that Kalanick resign from his job as the company's chief (which he did, although he will remain on the board of directors). By that point, their relationship had become so strained that Cohler and Benchmark's Peter Fenton handled most of yesterday's discussions with Kalanick (Fenton also was under consideration to be the replacement).