Jun 22, 2017

Uber's board shakeup continues, with Bill Gurley to leave

Lazaro Gamio / Axios

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).

Gurley's resignation is at Kalanick's request, in an effort to make sure the board functions more smoothly going forward, according to a source. Gurley also has been actively involved in the new CEO search and an ongoing COO search, and he is expected to maintain some level of involvement in those processes.

Board shuffle: This will be the second change to Uber's board over the past week. Last Tuesday, TPG Capital chairman and co-founding partner David Bonderman resigned after making a sexist remark to a fellow board member during a company meeting, and will be replaced by TPG's David Trujillo.

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Federal court temporarily halts "Remain in Mexico" program

Migrant wearing a cap with U.S. flagin front of the border between Guatemala and Mexico. Photo: Jair Cabrera Torres/picture alliance via Getty Image

The 9th Circuit Court of Appeals upheld a lower court's earlier injunction on Friday, temporarily stopping the Trump administration from enforcing the Migrant Protection Protocols (MPP) — known as the "Remain in Mexico" policy.

Why it matters: Tens of thousands of migrants seeking asylum have been forced to wait out their U.S. immigration court cases across the border in Mexico under the policy. The Trump administration has long credited this program for the decline in border crossings following record highs last summer.

Go deeperArrowUpdated 2 hours ago - Politics & Policy

Coronavirus updates: WHO raises global threat level to "very high"

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The World Health Organization raised its global risk assessment for the novel coronavirus to "very high" Friday, its highest risk level as countries struggle to contain it. Meanwhile, National Economic Council director Larry Kudlow this morning tried to reassure the markets, which continued to correct amid growing fears of a U.S. recession.

The big picture: COVID-19 has killed more than 2,860 people and infected about 83,800 others in almost 60 countries and territories outside the epicenter in mainland China. The number of new cases reported outside China now exceed those inside the country.

Go deeperArrowUpdated 3 hours ago - Health

Bernie's plan to hike taxes on some startup employees

Illustration: Sarah Grillo/Axios

Sens. Bernie Sanders (D-VT) and Chris Van Hollen (D-MD) introduced legislation that would tax nonqualified stock options at vesting, rather than at exercise, for employees making at least $130,000 per year.

The big picture: Select employees at private companies would be taxed on monies that they hadn't yet banked.