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The CEO of a financial-services company who famously cut his own pay in order to give his staff big pay raises announced his resignation on Wednesday amid legal troubles. Dan Price, who co-founded credit-card-processing firm Gravity Payments, made headlines in 2015 when he announced a decision to reduce his own pay from around $1 million to $70,000 in order to ensure that his 100-plus employees earned at least as much as him within the next three years. “My No. 1 priority is for our employees to work for the best company in the world, but my presence has become a distraction here,” Price wrote in a statement on Twitter. “I also need to step aside from these duties to focus full time on fighting false accusations made against me. I’m not going anywhere.” In February, Price was charged with misdemeanor assault charges relating to allegations that he’d tried to forcibly kiss a woman. He was also charged with reckless driving. The case is still ongoing after Price pleaded not guilty in May.
