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caption: Dan Price, as pictured in 2015. Price is the CEO of Gravity Payments, which has offices in Seattle, Boise, and Hawaii.
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Dan Price, as pictured in 2015. Price is the CEO of Gravity Payments, which has offices in Seattle, Boise, and Hawaii.

Dan Price, Seattle CEO who lowered his pay to $70K, resigns amid sexual misconduct allegations


Seattle CEO Dan Price is stepping down from his job as he faces sexual assault allegations and legal challenges.

Price, 38, has garnered headlines ever since 2015, when he cut his own salary and set a $70,000 minimum wage for employees at his company Gravity Payments.

RELATED: Dan Price accused of sexual misconduct

In May, Price pleaded not guilty to misdemeanor assault and reckless driving charges. A woman accused him of grabbing her throat and alleges that he tried to forcibly kiss her as they sat in his car following a dinner meeting.

Via Twitter Wednesday, Price announced that he is resigning from Gravity Payments, the credit card processing company he founded. He said he made the decision because he doesn't want to be a distraction while he fights "false accusations."

Price tapped Gravity Payments' chief operating officer Tammi Kroll to take over as CEO.

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