How Uber's chief is gaining even more control in the company
Travis Kalanick has been amassing voting rights power at the privately-held firm through employee share sales
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TRAVIS Kalanick, chief executive of Uber, wields plenty of control over the company because it is structured to favour its founders. But Mr Kalanick is quietly amassing even more control than entrepreneurs typically enjoy at their startups.
That is because he has been gaining voting rights power at Uber, a privately-held ride-hailing company, through employee share sales. Uber staffers who sell even part of their stock back to the company under a repurchase programme must give the voting rights associated with all of their shares to Mr Kalanick, according to a copy of the buyback agreement obtained by The New York Times.
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