San Francisco — Uber’s board of directors Tuesday approved a plan that reins in the influence of ousted CEO Travis Kalanick and opens the door to a colossal investment by Japanese telecommunications giant SoftBank. The proposal adopted by Uber’s board also promised to put an end to infighting between Kalanick supporters and investors who suspected the co-founder was plotting a wily return to the company’s leadership. "Today, after welcoming its new directors Ursula Burns and John Thain, the board voted unanimously to move forward with the proposed investment by SoftBank and with governance changes that would strengthen its independence and ensure equality among all shareholders," Uber said. "SoftBank’s interest is an incredible vote of confidence in Uber’s business and long-term potential, and we look forward to finalising the investment in the coming weeks." If the investment goes ahead as proposed, SoftBank would directly pump between $1bn and $1.25bn into Uber at the San Francisc...
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