Techstars CEO Maëlle Gavet announced her departure from the company in a LinkedIn post, due to health reasons.
Effective at the end of the month, David Cohen, Techstars co-founder and board chairman, will once again assume the CEO role.
“It is with extreme sadness that I’m announcing that I will be leaving Techstars for health reasons,” Gavet wrote. She revealed a personal history of thyroid cancer, having undergone surgery 11 years ago.
While medication and regular checkups initially managed the condition, recent tests indicated new nodules requiring her to prioritize her health.
Despite the circumstances, Gavet reflected on her tenure with pride. “I would not exchange the last 3.5 years of hard work for the world,” she stated, noting achievements such as a commendable increase in fundraising by Techstars’ portfolio companies and a rise in program applications.
She also emphasized the company’s focus on diversity, pointing to a growth in female and minority founders.
Gavet thanked Techstars founders, her leadership team, employees, investors, and the founders she mentored throughout her tenure. “I will be rooting for all of you from the sidelines and will remain a supporter of #Techstarsforlife,” she concluded.
Gavet’s leadership, however, was not without challenges. During her time as CEO, reports surfaced of a tense work environment leading to employee departures.
Techstars also faced issues balancing growth with profitability, and strained relationships with corporate partners resulted in a loss of clients. Under Gavet, accelerator programs in several locations, including Austin, Toronto, and Seattle, were shut down.
In a separate statement, David Cohen appreciated Gavet for her contributions. “She built a great team, made many tough decisions, and bravely enacted complex changes that were sorely needed,” Cohen acknowledged.
While pointing to Gavet’s need to focus on her health, he wished her strength and courage in the face of her challenges.
Cohen was optimistic about returning to the CEO role, a position he has held on and off for 13 years. His focus, he stated, remains on continuously improving Techstars’ service to founders.
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