Travis Kalanick has resigned as chief executive of Uber following pressure from shareholders – but will remain on the company’s board.

The Californian firm has been at the centre of a number of scandals, including accusations of sexual harassment.

And according to the New York Times, five major Uber investors signed a letter demanding his resignation on Tuesday.

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Last week, the 40-year-old announced he would be taking an indefinite leave of absence after the sudden death of his mother in a boating accident.

Mr Kalanick reportedly said: "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."

Uber's board said in a statement: "Travis has always put Uber first. This is a bold decision and a sign of his devotion and love for Uber.

"By stepping away, he's taking the time to heal from his personal tragedy while giving the company room to fully embrace this new chapter in Uber's history.

“We look forward to continuing to serve with him on the board."