Uber`s first employee and one-time chief executive Ryan Graves will step down from the company`s board of directors, Uber said on Friday.

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Graves this week informed the company of his intention to resign from the board, beginning Monday. Graves started at Uber in 2010 as the first employee and held a brief stint as CEO until co-founder Travis Kalanick took over that position. Graves is no longer working at Uber but had remained on the board. 

Uber held an initial public offering earlier this month, raising $8 billion; its stock is trading about 8% below its IPO price.