Dave McClure, the founder of Silicon Valley company 500 Startups, is stepping down as CEO amid sexual harassment claims.
Dave McClure’s decision to step down as CEO comes from claims of sexual harassment from Sarah Kunst. Kunst claims that she was sent an inappropriate message by the CEO on Facebook while seeking employment. McClure joked with Kunst about not knowing whether to hire or hit on her.
Following the investigation in sexual harassment by Dave McClure, the CEO chose to step down. His replacement at 500 Startups is Christine Tsai, who is a managing partner. McClure also apologized for his actions in a blog post on Saturday.
“I fully support and am heartened by founders and investors calls for Dave McClure to resign completely from any role with 500 Startups,” Kunst said in a statement obtained by the Los Angeles Times
. “The women hurt by his actions deserve to know that they did not speak up for naught.”
500 Startups is also losing partner Elizabeth Yin at the same time that Dave McClure is stepping down. This decision has her leaving the company while she is off for maternity leave.
According to Yin, she is leaving 500 Startups because it is no longer a company that she wants to represent. She specifically points out that there is a lack of transparency at the company. Yin also notes that a friend at the company had come to her to complain about Dave McClure’s actions. These were some of the main reasons that she is leaving the company, reports Forbes.
As of this writing, William White did not hold a position in any of the aforementioned securities.
