Uber co-founder Travis Kalanick is resigning from the company’s board of directors. Kalanick’s last day will be December 31, 2019, after which time he’ll focus on his “new business and philanthropic endeavors.”

The news comes just days after reports that Kalanick sold more than $2.5 billion in stock — more than 90 percent of his stake — over the past several weeks.

In a prepared statement, Kalanick said, “It seems like the right moment for me to focus on my current business and philanthropic pursuits.”