Directors at Uber Technologies Inc. [UBER.UL] plan to vote on board reforms and whether to pursue a major stock deal with SoftBank Group Corp (9984.T) on Tuesday, Bloomberg reported on Monday, citing sources familiar with the matter.
The moves could potentially reshape the ride-hailing company’s governance, limiting co-founder and former Chief Executive Travis Kalanick’s power as a shareholder and board member and lead to an official kick-starting of the largest private stock sale in history, Bloomberg said.
On Thursday 28th September, 2017 - Kalanick said he had appointed former Xerox Chief Executive Ursula Burns and former Merrill Lynch Chief Executive John Thain as directors in the face of proposals to dramatically restructure the board.
Uber could not be immediately reached for comment outside regular business hours.
Source: Bloomberg