Idaho CEO Dan Price, who established a $70K annual minimum wage, resigns from his position.

The CEO of the firm he established in college has resigned after claims of misdemeanor assault. The Idaho native came to national attention for setting a $70,000 minimum compensation for all of his workers and cutting his own pay to match. Dan Price announced that he was leaving Gravity Payments, a company that processes credit cards, in order to devote more time to "fighting bogus claims." He was charged with trying to kiss a lady against her consent earlier this year, according to the Seattle Times. Shortly before The New York Times published an investigative article outlining multiple women's claims of inappropriate behavior, Price announced his resignation. A history of abuse in Mr. Price's personal life and aggressive behavior at his firm have been made possible by his online celebrity,records and police files reveal interviews with more than 50 persons," the Times piece stated. In a note to his colleagues that he also posted on Twitter on Wednesday night, Price stated, "My No. 1 objective is for our people to work for the finest company in the world, but my presence has become a distraction here." I also need to stand down from these responsibilities so that I can devote all of my attention to defending myself against false claims, but I'm not leaving.