CEO of Ancestry.com, Tim Sullivan, Steps Down

The CEO of Ancestry.com, Tim Sullivan, has stepped down. According to a press release dated September 12, 2017. his resignation is effective October 1 and Howard Hochhauser, the company's Truth Financial Officer since 2009 and Chief Operating Officer since 2012, will assume the role of interim CEO. The company will begin the search for a permanent replacement. Quoting from the press release:

Since Sullivan joined Ancestry as CEO in 2005, the company has taken family history and consumer genomics mainstream. Today, Ancestry is a powerful and trusted brand that inspires a curiosity for self-discovery. Over his tenure, Ancestry revenues have grown from $140 million to more than $1 billion projected for the full year 2017, and more than five million people have taken the AncestryDNA test, making it the most popular consumer genomics product in the world. Over these years, the company also expanded internationally, established and grew a San Francisco office to complement its Utah headquarters, and today employs almost 1600 people.

On the same date, Ancestry.com announced that it had postponed its previously announced initial public offering. Ancestry's 5 million DNA customers far outnumber its 2.6 million paying subscribers. With 20 billion online family history records, Ancestry still claims to have the world's largest online collections.