• Home
  • About Us
  • Schedule
  • News
    • Citi Sports
    • Citi Business
  • Citi TV
  • Audio On Demand
  • Events
Citi 97.3 FM - Relevant Radio. Always
No Result
View All Result
Citi 97.3 FM - Relevant Radio. Always
  • Home
  • About Us
  • Schedule
  • News
    • Citi Sports
    • Citi Business
  • Citi TV
  • Audio On Demand
  • Events
Citi 97.3 FM - Relevant Radio. Always

Alphabet exec steps down from Uber board amid growing competition

August 30, 2016
Reading Time: 2 mins read
Share on FacebookShare on TwitterShare on Whatsapp

Alphabet executive David Drummond, who has been a director on the Uber Technologies board for close to three years, has stepped down, the ride-hailing firm confirmed on Monday.

The move is a signal of increased overlap between the two companies as they vie for an edge in the competitive autonomous vehicle business.

Drummond joined the board after Alphabet’s venture capital arm GV in 2013 invested about $250 million in Uber, among the firm’s largest investments and a deal in which Drummond was involved.

“I recently stepped down from Uber’s board given the overlap between the two companies,” Drummond said in a written statement sent to Reuters. “Uber is a phenomenal company and it’s been a privilege working with the team over the last two-plus years. GV remains an enthusiastic investor and Google will continue to partner with Uber.”

Drummond joined Google in 2002 and serves as senior vice president of corporate development for Alphabet.

Uber Chief Executive Travis Kalanick in a written statement called Drummond “a sage advisor and a great personal friend” and said that the two companies would have “continued cooperating and partnership.”

Technology news site The Information recently reported that Uber had shut out Drummond from board meetings, citing three people familiar with the situation, and is also shielding information from board participant David Krane of GV.

Uber has redirected much of its focus on developing a fleet of self-driving cars, also a sweet spot for Google. Uber opened a technology center in Pittsburgh, hired away some of the top-tier robotics minds from Carnegie Mellon University and has partnered with major automakers such as Volvo. Uber recently said it plans to put semi-autonomous cars on the road by the end of this month to pick up passengers.

Google is working on making its self-driving car experiments, which have been ongoing for years, into a viable business.

–

Source: Reuters

Previous Post

Ghana set for partial solar eclipse on Thursday

Next Post

Citi Breakfast Show, Tuesday, August 30th, 2016

  • About Citi FM
  • Archives
  • Audio on Demand
  • CITI OPPORTUNITY PROJECT ON EDUCATION (COPE)
  • Events
  • Heritage Caravan: Registration Form
  • Home
  • Schedule
Call us: +233 30 222 6013

© 2024 Citi 97.3 FM - Relevant Radio. Always

No Result
View All Result
  • Home
  • About Us
  • Schedule
  • News
    • Citi Sports
    • Citi Business
  • Citi TV
  • Audio On Demand
  • Events

© 2024 Citi 97.3 FM - Relevant Radio. Always