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Reddit CEO quits after dispute over new office space

Yishan Wong resigned from his job as reddit’s CEO after disagreeing with the company’s board over the location and costs of new offices the company was set to purchase, Reddit investor Sam Altman wrote in a blog post.

Although the news came to light in the wee hours of this morning, Altman says Wong quit last week.

“To be clear, though, we didn’t ask or suggest that he resign—he decided to when we didn’t approve the new office plan,” says Altman. “We wish him the best and we’re thankful for the work he’s done to grow Reddit more than 5x.”

According to Wong, the reasons for his resignation stated by Altman are true.

“I know it sounds somewhat unbelievable because it’s so weird, but if it was made up, I think any PR person would have come up with a better made-up story,” Wong explains on Quora. “I feel the board is a very supportive and friendly one, but we had a strategic disagreement wherein I felt that locating an office in San Francisco proper is an incredibly difficult thing given the strains the city is facing and the high rents it imposes on employees who wish to live close to the office.” [sic]

Wong also attributed the pressures and strains that come with being a first time CEO as a contributing factor.

“The job as CEO of reddit is incredibly stressful and draining.  After two and a half years, I’m basically completely worn out, and it was having significantly detrimental effects on my personal life,” he writes.

In the meantime, Ellen Pao takes over as interim CEO and reddit co-founder Alexis Ohanian makes a return as full-time executive chairman, will “transition to a part-time partner role at Y Combinator” says Altman and be responsible for marketing, communications, strategy and community.

“There is a long history of founders returning to companies and doing great things. Alexis probably knows the reddit community better than anyone else on the planet,” Altman adds.” He had the original product vision for the company and I’m excited he’ll get to finish the job.  Founders are able to set the vision for their companies with an authority no one else can.”

[Source – CNET]

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