Uber CEO resigns; Ford moves from Mexico to China: Daily Rundown

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Uber's Travis Kalanick has stepped down as CEO following a shareholder revolt. Five of Uber’s major investors demanded his immediate resignation in a letter titled "Moving Uber Forward," The New York Times reports. Kalanick, who last week announced he would take an indefinite leave of absence from the company in the wake of his mother’s sudden death, will remain on Uber's board of directors. “This is a bold decision and a sign of his devotion and love for Uber,” the board said It’s a critical time for the company, which has been engulfed in a growing list of scandals since the beginning of the year, many of which are tied to its workplace culture and leadership. Uber is currently being led by a committee of 14 executives.

• Was Kalanick's resignation the right move? #UberCEOResigns

Ford is moving production of its Focus compact to China instead of Mexico to save $500 million annually, beginning in the second half of 2019. The relocation won't result in any job losses at Ford's Michigan plant, where production of the Focus began, but it will have “broad implications for the US auto industry” — Focus shipments would be “by far the highest volume of vehicles to go from Chinese factories to American dealerships.” Automakers producing cars in Mexico have been under increasing pressure as President Trump renegotiates the North American Free Trade Agreement.

• What will this mean for the auto industry? #FordChina

Days after going into groceries in a big way with plans to buy Whole Foods, Amazon has announced Prime Wardrobe, a subscription box service à la Stitch Fix or Trunk Club. Customers can order clothing and accessories with no upfront charge, paying only for what they keep, CNBC says; some of the brands on offer include Adidas, Calvin Klein, and Levi's, in addition to Amazon’s private labels.

• Will Prime Wardrobe succeed? #AmazonPrimeWardrobe

Samsung will announce its next Galaxy Note 8 smartphone in August, according to Reuters. The Galaxy Note 8 will have a slightly curved screen that’s a tad bigger than the infamous Note 7, which had to be recalled in one the biggest tech safety fails ever after its batteries caught fire.

• Will Samsung’s next Galaxy Note be a hit? #GalaxyNote8

Choose your own adventure: Netflix is experimenting with interactive entertainment, releasing a choose-your-own-adventure episode for kids called "Puss in Book: Trapped in an Epic Tale” (featuring the popular sword-wielding cat from the DreamWorks Animation movies). A second interactive program, also for children, will arrive on July 14. At key points along the way, the viewer can navigate to an option, and the story adjusts accordingly.

• Is interactive entertainment just for kids? #NetflixChooseYourAdventure

Toshiba has chosen a government-led consortium as a preferred bidder for its memory chip business, estimated to be worth about $20 billion, The New York Times reports. The Japanese conglomerate is trying to cover billions of dollars of losses from its bankrupt US nuclear unit. Toshiba hopes to reach an agreement with the consortium before a shareholder meeting on June 28, but faces challenges: Western Digital, an American data storage company that owns part of a Toshiba semiconductor factory, says Toshiba cannot sell without its consent.

• Share your thoughts: #ToshibaChipUnitSale

What's your take? Join the conversations on today's stories: #UberCEOResigns | #AmazonPrimeWardrobe | #FordChina | #GalaxyNote8 | #NetflixChooseYourAdventure | #ToshibaChipUnitSale

— Lorraine K. Lee / Share this using #DailyRundown