Dan Price, CEO who cut his pay so workers earned $70,000, quits amid legal woes
CBSN
A Seattle CEO who announced in 2015 that he was giving himself a drastic pay cut to help cover the cost of big raises for his employees has resigned — one day before an explosive news report alleging he had a pattern of abusing women.
Dan Price, CEO of credit card processing company Gravity Payments, resigned Wednesday, saying his "presence has become a distraction" at the company. "I also need to step aside from these duties to focus full time on fighting false accusations made against me," he wrote. "I'm not going anywhere."
Earlier this year, Seattle prosecutors charged Price with misdemeanor assault against a woman and reckless driving. Prosecutors say Price tried to forcibly kiss a woman. He pleaded not guilty in May, and the case remains ongoing.
