Social MediaMax Levchin Resigns as Chairman and Director of Yelp
Yelp Inc. which is known as the company that connects customers with excellent local businesses, announced that Max Levchin has resigned with immediate effect as the company’s Chairman and Director. Levchin has decided to move on to pursue other interests.
Speaking on his decision Levchin said, “I am extremely proud of what Yelp has accomplished over the last 11 years and believe I leave it well-positioned to take advantage of the large local advertising market. I spoke with Jeremy and felt now is the right time to transition off the board. I’m confident that Yelp is prepared to continue its success as I increase my focus on my CEO responsibilities at Affirm, along with other demands on my time.”
Jeremy Stoppelman, Yelp’s chief executive officer added, “We thank Max for all his contributions to Yelp since its founding in 2004 when he provided the seed capital to start the company. Max saw Yelp grow from just an idea in my head to a company worth billions of dollars with Yelpers around the world. We have mutually agreed this is the right time for him to step down given the demands on his time. I am grateful for his contributions to Yelp’s success and wish him all the best going forward.”
While the company’s Board has not appointed a new Chairman yet, it plans to take up the issue at its September Board meeting.
