Peter Landers, Partner, Global Governance Advisors, joined BNN’s Michael Hainsworth to provide his take on what the resignation of Uber CEO, Travis Kalanick, means for Uber, Silicon Valley, and the rising power of shareholders.
Peter says that Mr. Kalanick’s resignation aligns with what GGA is seeing in the marketplace for private and publicly-traded companies – shareholders showing an increased willingness to exert their power and demand changes where they see problems. Given many of Uber’s investors were demanding that Kalanick step down as CEO this should be viewed as a big win for them as they have been able to influence change within the organization.
Peter also notes the importance of succession planning moving forward at Uber as they are currently without a permanent CEO, CFO or COO. Uber investors will be pushing for the type of CEO they would like to see take the helm of the company now that it has matured from a small start-up eight years ago into a global power house with an approximate $70 billion private valuation. The company most likely needs a CEO with experience as a change agent to help steer the company through its transition period as it looks to change its internal culture and continue to grow.