“$70,000 CEO” Dan Price resigns as chief of Gravity Payments after assault allegations

Dan Price, who made the news in the world seven years ago due to his plan to increase the minimum wage for Gravity Payments, announced his resignation on today as the CEO of the Seattle-based firm.

Price tweeted an email he sent to his employees concerning his resignation. “My No. top priority is to get our employees to be employed by the top company on the planet, but my presence has turned into distracting from this,” he wrote. “I must also quit these obligations to focus on fighting the false accusations of my. I’m not leaving.”

Price was found not to be guilty on May to minor charges of reckless driving and assault in connection with an incident during which the prosecution claimed that he tried to kiss a woman who was 26 in his vehicle and later pulled her throat when she refused the kiss.

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Gravity Payments Chief Operating Officer Tammi Kroll has replaced Price as the company’s CEO. The credit processing and technology firm located within Seattle’s Ballard neighborhood employs 240 people.

Gravity Payments was the subject of international news because of Price’s announcement in April of 2015 to increase the minimum wage of the company to $70,000 over three years . He also decided to immediately reduce his salary -which was previously higher than $1 million up to $70,000 to pay for the salary increases.

Through this process, Price became an outspoken advocate for the rights of workers and fair pay. She frequently critiqued corporate leaders on social media as well as in interviews with the press.

Price was the catalyst for the creation of Gravity Payments over 18 years ago.

In 2016 Dan Price won the case which was filed against his brother and former business partner Lucas Price, that included the claim in which Dan Price had used his majority control over Gravity Payments to receive exorbitant compensation. Court records revealed that the suit was filed against Dan Price in the days prior to his major pay announcement at the company.

Gravity has a current minimal wage that is $80,000, and has reported record profits in the last fiscal one year in line with a tweet by Price published on Wednesday.

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