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Uber’s CEO Travis Kalanick has formally resigned from the company he co-founded in 2009, stepping down after receiving a letter from some of the company’s largest shareholders. His departure ends a volatile period for the world’s largest ride-sharing company, which caught the taxi industry by surprise and transformed transportation across the world.

In a letter obtained by The New York Times titled “Moving Uber Forward,” investors wrote to the former CEO requesting his resignation, reiterating the importance of a change in leadership. Kalanick, who owns 10% of shares and will retain his seat on Uber’s board of directors, will still have a significant influence on major decisions within the company.

“I love Uber more than anything in the world and at this difficult moment in my personal life, I have accepted the investors’ request to step aside so that Uber can go back to building rather than be distracted with another fight,” Kalanick told The New York Times.

Multiple scandals have led a myriad of executives to flee from the company, leaving it without a CEO, COO, CFO, CMO and SVP of Engineering. In January, more than 200,000 Uber users deleted the app amidst claims of sexual harassment at the corporate level. Subsequently, a separate report revealed that the company tracked drivers who also drove for its direct competitor, Lyft. Another scandal revolved around “Greyball,” an app Uber used for years to get around law enforcement documenting whether it was operating in cities where it had been banned or in legal grey areas. The use of that app eventually led to a criminal investigation by the US Department of Justice.

With the removal of Kalanick and the release of its 180 Days of Change campaign, Uber seems intent on making amends. Just yesterday, it announced the introduction of tipping, a feature that Kalanick had refused to implement in the past.

If you don’t already have an Uber account, you can sign up here to receive a $20 credit from TPG. Be sure to also sync a credit card with your Uber account so you can earn the greatest return on your ride, such as the Chase Sapphire Reserve, which gives you 3x points per dollar on travel or the Platinum Card from American Express card, which offers a $200 annual Uber credit to cardholders.

H/T: The New York Times

Featured image courtesy of Getty Images.

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