Uber cofounder Travis Kalanick will leave the company's board at the end of the year

Reuters

Travis Kalanick.

• Uber cofounder Travis Kalanick will leave the company's board at the end of the year, The Wall Street Journal first reported.
• Kalanick served as the Uber's CEO until 2017 and recently sold more than 90 percent of his stock in the company, valued at $2.5 billion.
• Visit Business Insider's homepage for more stories.

Uber cofounder Travis Kalanick has announced his departure from the ride sharing company, The Wall Street Journal first reported. Kalanick founded the company more than a decade ago and served as the company's CEO until 2017.

Kalanick recently sold more than $2.5 billion worth of stock in Uber, which is reportedly more than 90% of his stake.

This story is developing.

NOW WATCH: How Jay-Z and Diddy used their fame to make millions off of 'cheap grapes'