Sina U. S. stocks 24, according to sources reported that Uber co-founder and former CEO Travis Kalanick (Travis Kalanick) will resign from the board of directors, effective December 31, 2019. After that, he will focus on personal work and philanthropy.

Since the lock period expired last month, Kalanick has sold UBER TECHNOLOGIES INC worth more than $2.5 billionShares, according to public documents, his remaining shares are less than 10%. Kalanick has been systematically selling shares since November 6.

Kalanick sold another $383 million worth of shares last week, with the rest worth about $250 million.

There were earlier reports that Kalanick's move could raise questions about his status as a member of UBER TECHNOLOGIES INC's board of directors. Other former executives, including co-founder Garrett Camp, also sold shares, but on a smaller scale than Kalanick.

These sales have been a disadvantage in UBER TECHNOLOGIES INC's first year on the market.

This year, investors punished the shares of loss-making companies involved in hyping IPO, with UBER TECHNOLOGIES INC's share price rarely above its offering price of $45.

As of Monday's close, Uber shares were trading at just $30.33, down almost 1/3 from their offering price.