Seattle CEO Dan Price cut his pay so workers could earn $70K resigns

Seattle CEO Dan Price cut his pay so workers could earn $70K resigns

"My No. 1 need is for our representatives to work for the best organization on the planet, yet my presence has turned into an interruption here," Dan Price, who established Gravity Payments quite a while back, said in a proclamation.

SEATTLE — A Seattle CEO who reported in 2015 that he was giving himself an extreme compensation slice to assist with taking care of the expense of huge raises for his representatives has declared his renunciation.

Dan Price, the troubled CEO of Mastercard handling organization Gravity Payments, surrendered Wednesday, The Seattle Times revealed.

Price shocked his 100 or more laborers when he let them know he was cutting his generally $1 million compensation to $70,000 and utilizing organization benefits to guarantee that everybody there would acquire in some measure that much in three years or less.

"My No. 1 need is for our representatives to work for the best organization on the planet, however my presence has turned into an interruption here," Price wrote in a proclamation on Twitter. He established the organization quite a while back.

"I likewise need to move to one side from these obligations to zero in full time on battling misleading complaints made against me," he composed. "I'm staying put."

His brother Lucas sued him in 2015, asserting that Dan Price was overpaying himself. A King County judge decided that Dan had not disregarded Lucas' privileges as a minority investor.

Charges that Price had mishandled ex Kristie Colon likewise surfaced that year. A Bloomberg report related an October 2015 TEDx talk given by Colon during which she depicted being beaten and waterboarded by her ex, without naming Price.

Price let Bloomberg know those occasions "won't ever occur."

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