Industry Moves: Safka Steps Down As Chegg CEO

Jim Safka

Jim Safka, the former CEO, has stepped down as CEO of heavily-funded online textbook rental service Chegg after less than four months on the job. In a statement, Safka says he is leaving the startup to spend more time with his family. “Due to the extraordinary demands of Chegg over the last several months and exceptional growth, the work required of the CEO of the next 12-18 months has compacted into a much shorter period of time,” he says. “Given my personal priorities and family desires, I have decided to pass the reigns to a new CEO but look forward to consulting with Chegg on marketing.” In leaving in mid-May, following the unexpected death of his brother, Safka also said that he had re-evaluated his priorities and wanted to do something “smaller and more local, enabling me to have a better personal balance.”

With Safka’s departure, co-founder Osman Rashid, who had been CEO until Safka’s hiring, will take on the role of interim CEO. Rashid is also the CEO of Kakai, a stealth startup closely tied to Chegg which is developing electronic book reader mobile phone apps.

Chegg says it “does not expect to make any additional structural changes or executive leadership changes at this time.” The startup raised $25 million in a third round of funding last December. Release.


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