SoftBank Group Corp. has agreed to block any attempts to elevate Travis Kalanick — controversial former leader of Uber Technologies Inc. — back to the company's top ranks, according to people familiar with the discussions.
The decision removes a major obstacle from the Japanese firm's planned multi-billion-dollar investment in the ride-sharing company.
Venture capital firm Benchmark, which led Kalanick's ouster in June, has sought a guarantee in writing from SoftBank that it would reject reappointing Kalanick as chief executive officer and block his appointment as chairman of the board or head of one of its subcommittees, said the people.