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The CEO of $1 billion Evernote is stepping down because he wasn't 'passionate about it'

Phil Libin Michael Seto/Business Insider

Phil Libin will step down as Evernote CEO and be replaced by former Google exec Chris O’Neill, Recode reported on Monday. Libin will remain as executive chairman.

The move comes a month after Libin revealed in an interview with The Information of his intention to step down.

Libin told Recode that his decision to resign is largely due to his lack of passion leading a company that’s about to go public. He’s said in previous interviews that he’s more interested on the product side of the business.

“I’ve always said that I wouldn’t be the company’s last CEO. And I realised years ago that I didn’t want to be the CEO when the company went public…I realised I wasn’t passionate about being the CEO who will take this company public and that I should find someone who will be passionate about it,” Libin told Recode.

O’Neill formerly led the Google Glass project for 13 months, before leaving his position in June. He’s been with Google since 2005, filling in various executive roles including managing director of Google Canada.

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