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Posted in 2014 contender | 0 comments

Reddit: Yishan Wong (CEO)

Why this was a big quit:

CEOs at most firms rarely quit for salary, Yishan Wong proved that money is not always why they join either. True to his fans, Wong provided insights into his role as Reddit’s first CEO through the site’s AMA, or “Ask Me Anything,” feature. Coming from PayPal and Facebook, Wong asked for a lower salary upon accepting the role at Reddit because he believed a high CEO salary was detrimental to the start-up culture. Wong grew Reddit to over 175 million monthly users, among the top 30 in the world, and raised $50 million in funding in September 2014 to grow further.

Why this is not as big as our Top 10:

The official story is that Wong quit over a “disagreement over an office move.” If that seems too crazy to be true, it is. Since the initial announcement, Wong admitted the office location issue could have been “worked out” and that he no longer enjoyed the demands of such a high stress position. The departure of a CEO who disliked his job is not all bad for a company. Also, the resignation was not widely contested by the Reddit community, as evidenced by maliciously exuberant threads titled such as “We did it! Wong resigns!”