U.S. Markets closed

Uber's first employee, Ryan Graves, to leave board

Jeremy C. Owens

Uber Technologies Inc. disclosed Friday afternoon that Ryan Graves, the ride-hailing company's first employee, is resigning from the board as of Monday. Uber did not state a reason for Graves's departure, though it did state that it was not due to a disagreement with the company. "While this is a bittersweet moment, we accept his personal decision that this is the right time for him to step down," Ron Sugar, the independent chair of Uber's board, said in a statement. Graves served as chief executive of the company for a time in 2010, and then led operations until 2017. After Uber's initial public offering earlier this month, Graves was expected to own 1.9% of Uber stock, according to filings with the Securities and Exchange Commission. Graves is currently the founder and chief executive of an investment firm called Saltwater Capital.