Techstars CEO Maëlle Gavet announced her resignation from the company, effective at the end of May, citing health concerns.
Gavet’s tenure, which began in 2021, was marked by significant challenges. Internally, her leadership style was criticized for creating a stressful work environment, leading to employee departures. Externally, Techstars struggled to balance growth with profitability. A strained relationship with a key partner, JPMorgan Chase, jeopardized accelerator programs funded by an $80 million partnership.
Techstars also shuttered accelerator programs in several locations during Gavet’s time as CEO. These closures reflect broader challenges facing the company in maintaining its global reach.
While acknowledging the difficulties of Gavet’s tenure, Techstars co-founder David Cohen commended her efforts to address complex issues. He emphasized that her departure is due to health reasons and wished her well in her recovery. David Cohen will assume the CEO role once again.
Source: Tech Economy