Uber loses two board members, including Arianna Huffington
Three of Uber's prominent board members have stepped down in the last two months.
Entrepreneur Arianna Huffington said she's resigning from Uber's board of directors.
Two of Uber's prominent board members are stepping down from the company's board of directors, according to filings with the US Securities and Exchange Commission on Wednesday evening: entrepreneur Arianna Huffington and Matt Cohler, a general partner at venture capital firm Benchmark.
Huffington also tweeted the news, saying her decision came about because of her increasing commitments as CEO of Thrive, the health and wellness company she founded. "I will no longer be able to give my board duties the attention they deserve," she said.
"There were no disagreements whatsoever with the company that led to this decision," Huffington wrote in an email to Uber's board. "It has been an unforgettable three-year ride."
With the departures of Huffington and Cohler, Uber has lost three board members in the past two months. Ryan Graves, Uber's first CEO, stepped down from the board in late May. Nine members remain.
The ride-hailing company has experienced a tumultuous past couple of months. It issued an initial public offering in early May and turned in a lackluster performance. Since then, its shares have continually traded below its $45 offering price. Uber also lost two top executives last month, including its chief operating officer, Barney Harford.
Huffington joined Uber's board in early 2016 and Cohler came on in June 2017. Cohler also said his resignation wasn't due to any type of disagreement with the company. Benchmark is one of Uber's largest investors, and Cohler's departure means the venture capital firm no longer has representation on the board.
"My partners at Benchmark and I have had the privilege of being part of the Uber journey since the Series A nearly a decade ago," Cohler said in the filing.
Benchmark has tangled with Uber in the past. Two years ago, the firm led the charge in demanding the resignation of Travis Kalanick, Uber's co-founder and then CEO. Kalanick stepped down and Uber's current CEO, Dara Khosrowshahi, joined a couple of months later. Kalanick is still on Uber's board of directors.
Both Cohler's and Huffington's resignations went into effect immediately.
Uber didn't respond to a request for comment.