Two members of Uber’s board of directors are resigning, the company announced Wednesday. Shares of Uber were down nearly half a percent during after hours trading.
Thrive Global CEO Arianna Huffington and Matt Cohler, general partner at venture capital firm Benchmark, informed Uber of their plans to resign this week, the company disclosed in filings with the Securities and Exchange Commission. Both resignations are effective the day of the announcement. This means Benchmark, once Uber’s largest outside investor, no longer has a seat on the company’s board. Cohler replaced Benchmark partner Bill Gurley in 2017 as the company was mired in a number of scandals.
Huffington and Cohler follow the departure of Uber’s first employee Ryan Graves, who left the board in May, shortly after Uber’s IPO.
Huffington said in a statement filed with the SEC that she no longer felt she could devote the time to being an Uber board member due to the expansion of her own company.
“Given Thrive’s growth, it has become clear to me that I will no longer be able to give my Uber board duties the attention they deserve, so I will be stepping down,” she said. “It has been an unforgettable three-year ride, and I’m grateful to have been able to work alongside my fellow board members and witness the incredible work of thousands of Uber employees around the world.”
Cohler did not offer a specific reason for his departure, but said in a statement included in the filing, “My partners at Benchmark and I have had the privilege of being part of the Uber journey since the Series A nearly a decade ago. I’m thrilled with the company’s position, excited for the road ahead, and extend my deepest thanks to all of Uber’s past and present employees, directors, drivers, and customers.”
Uber said both departures were not the result of any disagreements. Cohler told Uber of his intentions to resign on Tuesday, and Huffington informed the company on Wednesday, according to the filings.