Maëlle Gavet, Techstars CEO will resign from the company because of her health challenges, and co-founder David Cohen will replace her.
For health-related reasons, Techstars CEO Malle Gavet announced on LinkedIn that she will depart the organization at the end of the month. Today, David Cohen, co-founder and board chairman of Techstars, will assume the CEO role.
As CEO in 2021, Gavet stated on LinkedIn that “she would not trade the previous three and a half years of diligent effort for the entire world.” She then acknowledged the founders, investors, employees, and executive board members with whom she had the pleasure of collaborating during her tenure.
“I will continue to support Techstars and cheer for each of you from the sidelines.”
Techstars declined to elaborate on Gavet’s departure but referred to the organization’s website-posted statement.
A turbulent tenure has befell Gavet at Techstars.
Under Gavet’s tenure as CEO, her approach to leadership generated considerable discord. Both employees and managing directors lodged allegations that she fostered a contentious workplace atmosphere, culminating in a substantial departure of personnel. According to a source, Techstars also needed help to balance its desire to scale and its need to generate a profit, and its tense relationships with corporate partners such as JPMorgan Chase contributed to high client attrition.
The Techstars accelerator programs in Austin, Toronto, Seattle, Sweden, Boulder, and Norway ceased operations during Gavet’s tenure. Following the deterioration of Techstars’ relationship with JPMorgan, it is now improbable that the eight programs funded by that $80 million partnership will continue. These programs were established in Miami, Atlanta, and Oakland.
Cohen expressed appreciation for Malle’s tenure at the organization in a separate statement published on the website. “She courageously implemented much-needed complex changes, assembled an exceptional team, and executed numerous difficult decisions,” the release stated. Malle must now prioritize her health.” I speak for the entire Techstars staff when I say that we extend our sincere wishes for her to confront the future with fortitude and bravery.
Cohen stated that he was “ecstatic” to return to Techstars as CEO, a role he has held intermittently for the past thirteen years. He wrote, “I will persist in my efforts to enhance Techstars for the benefit of founders.”
