Brent Callinicos Uber CFO Steps Down After Helping Spearhead The Company's Ballooning Growth In The Last Two Years! What Are His Reasons?

Uber CFO Brent Callinicos feels it is time for his family to take the front seat as the company announced his departure citing his desire to spend more time with his wife and daughter.

Ride-sharing company Uber said Monday, March 16 that Callinicos is leaving the company to spend more time with his family after helping spearhead Uber's fastest years of growth.

Uber CEO Travis Kalanick shared the news of Callinicos' exit with investors in an email reviewed by The Wall Street Journal.

WashingtonPost noted that Gautam Gupta, Uber's head of strategic finance, will be in charge of its finance while the company looks for a permanent replacement. Uber confirmed Callinicos will continue to advice Uber.

Kalanick's email stated that almost two years back, he brought on one of the great financial operators in Silicon Valley as Uber's CFO. Kalanick added "Brent has done a wonderful job here at Uber," however has decided that it is time for his next journey, one where his family takes the front seat.

In Callinicos' email to staff, he thanked the company but accentuated his desire to spend time with family. Callinicos said its time to do what he has desired for a long time and added it's time for him to keep a promise to his wife of not missing another school play, swim meet or academic achievement of their daughter's childhood.

Callinicos joined Uber in 2013. He was a treasurer and chief accountant at Google Inc. Callinicos also worked for Microsoft Corp. for fourteen years.

TheWallStreetJournal points out that Callinicos is one of the highest ranked executive to depart the taxi alternative company. According to Dow Jones VentureSource, Callinicos helped the company raise more equity capital from investors, more than $5billion than any private venture-backed company in history.

Uber is a taxi alternative company that lets passengers submit a trip request, which is routed to crowd-source taxi drivers. Uber operates in more than 50 countries and is valued at $40 billion.

That said, the company faces numerous legal and regulatory challenges as it expands. Uber has been criticized over the carefulness of its background checks on drivers besides other safety issues and its method of raising prices when demand goes up.

Following the Uber rape case involving a 27-year-old female New Delhi executive who was allegedly raped by a Uber taxi driver, the company was banned from operating in Delhi, India. According to TheIndianExpress, a case of cheating, under Section 420 of the IPC has also been registered against Uber.