Uber Technologies CEO Dara Khosrowshahi steps down from the board of directors at Grab Holdings Limited, according to reports citing a filing from Grab. The departure is effective immediately. The move concerns the relationship between the two companies, which both operate in ride-hailing and delivery markets in Southeast Asia. Following the announcement, Grab’s share price declines by about 3% during Monday trading, as described by one outlet covering the development. The sources do not provide additional details on the reasons for the resignation or whether any replacement director is named at the time of publication. Overall, the reporting focuses on the corporate governance change and the near-term market reaction to the update about the leadership’s board role at Grab.