Gravity Payments CEO Dan Price resigns, Tammi Kroll to take over

Gravity Payments CEO Dan Price has resigned, with chief operating officer (COO) Tammi Kroll set to take the reins at the firm.

Gravity Payments’ new CEO Tammi Kroll

Price, who confirmed his resignation on Twitter last week, says his “number one priority is to work for the best company in the world, but my presence has become a distraction here”.

The Seattle Times reported earlier this year that Seattle prosecutors charged Price with misdemeanour assault and reckless driving after allegedly attempting to kiss a woman and grabbing her throat when she refused. Price pleaded not guilty to the charges in May.

“I also need to step aside from these duties to focus full-time on fighting false accusations made against me. I’m not going anywhere,” Price concludes.

Gravity’s new CEO thanked Price for “his time forming and leading” the company.

“The company supports his decision to step aside. I am grateful to lead Gravity through this next chapter,” Kroll adds.

Price, who founded Gravity Payments in his dorm room 18 years ago, is perhaps best known for slashing his $1 million salary in order to boost the pay for his employees to $70,000, from an average of $48,000. The company now pays a minimum starting wage of $80,000.