The CEO of Strava, a fitness tracking app, announced his resignation on Tuesday. This is after the company laid off dozens of its employees back in December.
In a letter posted on the Strava blog, CEO and co-founder Michael Horvath announced that the company would search for his successor.
In the post, Horvath addressed the Strava community, stating his confidence that Strava and its new subscription model would remain “ “at the center of connected fitness for many, many more people over the coming decade and beyond.”
Back in December, the San Francisco-based company announced it has laid off 38 employees, around 14% of its workforce. The layoff was after the announcement of the price increase of the fitness app’s premium subscription.
Of his decision to step down, Horvath wrote, “I have decided that Strava needs a CEO with the experience and skills to help us make the most of this next chapter,” and that the “search for Strava’s next CEO is underway.”