After a bumpy few weeks, controversy hit ride hailer Uber has seen its fractured board reach a new accord.
Uber’s major shareholder Softbank has now agreed to new measures designed to bring harmony to the group’s corporate level, including new governance provisions that limit the influence of former chief executive Travis Kalanick.
In a statement, Uber described Softbank’s support as “an incredible vote of confidence”.
The new arrangements are expected to see Uber grow boardroom representation significantly, up to 17 directors rather than a current headcount of 11 (including two appointees for Kalanick).
Uber’s new board would then comprise seven independent directors, five representatives for Uber founders and five directors representing significant investors.