Uber to proceed with SoftBank deal to limit Travis' power
Cab-hailing startup Uber's board on Tuesday voted in favour of an investment deal with SoftBank and approved a series of governance changes, which will limit Co-founder Travis Kalanick's power in Uber. The changes will strengthen Uber's independence and ensure equality among shareholders, Uber said. Uber board has decided to expand the size of the board to 17 from 11 Directors.