colour CEO Bill Nguyen seems to be withdrawing from the company, reports TechCrunch.
The location-based photo startup famously received $41 million in funding, but there has been some trouble lately.
Nguyen has “completely stepped away from his day-to-day duties” at the company and hasn’t been seen at the headquarters in two months.
There are unconfirmed rumours that he’s even sold his home in Silicon Valley and has taken up residence “either in Tahoe or Hawaii.”
TechCrunch was able to get Nguyen on the phone as he was boarding a plane to Maui.
“I do this historically,” he said. “I take off for a little while and I vacation. It’s nothing new or exciting. The roles of founders and CEOs is to get everyone engaged and give opportunities to people. And when things haven’t worked out as expected, the best way for me to recharge is to go on sabbatical.”
Nguyen also acknowledged that other board members are less than pleased that he’s maintained the title of CEO while off the map, and the issue will be discussed at the next board meeting.
However, Nguyen explained that he’ll not appear at the meeting in person – “I’m going to have to call in, because I’ll be in Maui.”
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