Dan Price, CEO who slashed his own pay for improved workers salary, steps down over assault charge

Dan Price made waves just some years again when he reduce his personal pay to boost his employees’s wage.

Just lately, he has been making the rounds on-line – this time, for resigning from his firm, Gravity Funds.

Resignation

Dan Price just lately introduced his exit from Gravity Funds in a press release he posted on Twitter.

“Expensive colleagues, At this time I resigned as CEO of Gravity Funds, the corporate I based 18 years in the past,” he wrote on August 18.

“Tammi Kroll, our long-time chief working officer, has been named the corporate’s new CEO. 

My No. 1 precedence is for our staff to work for the most effective firm on the earth, however my presence has turn out to be a distraction right here.

I additionally must step other than these duties to focus full time on preventing false accusations made in opposition to me.

I’m not going anyplace.”

The accusation

Price is presently going through costs for allegedly assaulting a 26-year-old lady.

Earlier this 12 months, he was charged with misdemeanor assault and reckless driving after allegedly making an attempt to kiss the girl after a enterprise assembly.

When she rejected his advance, Price allegedly grabbed her by the throat.

The Seattle Occasions stories that Price drove to a parking zone and carried out “donuts” in his Tesla with the girl within the automobile.

Regardless of the accusations, Dan Price maintains he isn’t responsible and denied any wrongdoings

“Mr. Price respects the authorized course of and is assured that he will probably be vindicated in courtroom,” mentioned his lawyer earlier this 12 months.

Dan Price

Dan Price earned widespread recognition in 2015 when he revealed that he reduce his wage from $1 million to $70,000.

He shared that the cash helped fund an initiative to boost the corporate worker’s minimal wage from $48,000 to $70,000 inside a three-year interval.

“I’m so completely happy how folks’s lives are altering as a result of they deserve it, and so they deserve each penny of it,” mentioned Price.

“For me to make the sacrifice within the quick time period, I’d relatively this than a trip house in Palm Springs or the Hamptons. I assure that this can repay.”

Since then, Price has held himself as an outspoken employees’ rights advocate, constructing a cult following on social media.

A lot of his LinkedIn posts name out company leaders, asking for improved worker pay and advantages, sending him to recurrently go viral.

Earlier points

Price has confronted authorized scrutiny and allegations of misconduct in his private life over time.

His initiative to spice up minimal wage on the agency coincided along with his older brother Lucas accusing Price in courtroom of overpaying himself whereas violating his rights as a minority shareholder within the agency.

The courtroom later dominated in Dan Price’s favor.

In 2015, Bloomberg reported the then-Gravity Cost boss’s ex spouse Kristie Colon gave a TEDx discuss whereby she alleged he bodily assaulted her with out naming him.

Colon talked about locking herself in her automobile as soon as for concern that “he was going to body-slam me into the bottom once more or waterboard me in our upstairs toilet like he had executed earlier than.”

Price informed Bloomberg her account of the incidents “by no means occurred.”