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Zoox's CEO is out at self-driving car startup

Tim Kentley-Klay, CEO, Zoox, speaks July 17, 2017 at the Fortune Brainstorm Tech conference in Aspen, Colorado. Photo: Rob Lever/AFP/Getty Images

Tim Kentley-Klay, co-founder and CEO of the secretive self-driving car company Zoox, is no longer at the company, as The Information first reported and a source confirms to Axios. The company's board informed the company this morning of the decision.

Why it matters: Just last month, the company announced $500 million in new funding at a $3.2 billion post-money valuation to continue its ambitious project of building a fully-autonomous car.

The company declined to comment.

Update: Kentley-Klay later tweeted that on Wednesday, Zoox's board fired him "without warning, cause or right of reply."

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