Directors voted to increase the number of board members to 17 from 11 andapproved the appointments of Ursula Burns, a former Xerox CEO, and John Thain, a former Merrill Lynch and CIT Group chief executive - two directors named to the body in a surprise move by Kalanick last week. He chose to package the vote together, with advice from Goldman Sachs Group Inc., in the hopes of attracting enough votes to change the company's power structure.
Among the approved proposals Tuesday, Uber's board agreed to revoke certain investors of their so-called supervoting rights, which granted them multiple votes per share, a person familiar with the matter said.
Any SoftBank deal would still require finding existing stockholders who hope to sell their positions.
Benchmark said it never would have granted Kalanick control over the additional seats had it been aware of the "gross mismanagement of Uber and several other significant matters", according to the complaint. "Anyone would tell you that this is highly unusual". Bloomberg reported in July that some Uber shareholders, led by Benchmark, discussed a stock deal with the Japanese company that has backed some of the startup's ride-hailing rivals in Asia.
These changes came after Kalanick named two new directors without consulting any other members of the directive group. The discussion was set to include talks of expanding the board to as many as 17 seats, according to people with knowledge of the plans. "And numerous proposals - including a mechanism to push Uber toward an IPO if more than a third but less than half the board support - are indeed unusual". The case is now in private arbitration. Burns and Thain did not participate.
You can now share your Instagram Stories directly on Facebook
Many called the introduction of Stories to the newsfeed a last-ditch effort to get the feature to catch on with Facebook users. Reportedly Facebook had been testing a new feature that appeared for Portugal users last month.
Land Rover reveals new Range Rover Sport plug-in hybrid
Visually, the SUV got an even more sober front fascia through a sportier bumper, slightly redesigned grille, and new headlights. And if the hybrid isn't for you, a new 296bhp 2.0-litre turbocharged petrol engine has joined the Range Rover Sport line-up.
Sister of Las Vegas shooter's girlfriend speaks out
The casino said in a statement she stopped working there "several years ago" and that it had no information on the pair. Meanwhile, a nephew of Paddock's girlfriend says he's stunned didn't even know that Paddock was interested in guns.
The new voting system adopted by the board is particularly damaging for Kalanick's influence: board members will now each have one vote per share, regardless of the class of shares they own.
In a statement to Business Insider Friday night, Kalanick basically admitted his surprise appointments were created to get in front of the proposed changes to the board structure.
Uber has endured a series of scandals related to its culture and brash approach to regulatory and legal issues.
Ever since Travis Kalanick was ousted as the CEO of Uber, the company has lurched from one trouble to another, and new CEO Dara Khosrowshahi has his hands full. Those directors still must be approved by a majority of the full board or a majority of shareholders. After Kalanick resigned in June, he appointed himself to one of those seats.
But the board didn't approve all proposed terms - for instance, changes that would have prevented Kalanick from regaining the CEO seat were dropped from the proposal before the meeting.