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Tim Sullivan is stepping down as CEO of geneology site Ancestry.com, which has been gearing up to go public. The company was most recently valued at $2.6 billion.

Sullivan will transition into a chairman role on October 1. He will be succeeded on an interim basis by CFO/COO Howard Hochhauser.

What happens to the IPO? It's delayed, not dead. The company already filed confidential paperwork with the SEC, but won't submit a publicly-available S-1 document until the new boss is in place.

A source close to the situation says Ancestry's senior management had been talking about post-IPO succession planning, given that Sullivan had been with the company for 12 years (he was previously CEO of Match.com). Sullivan is said to have felt that since Utah-based Ancestry wasn't under any financial pressure to go public, it would make more sense to accelerate the transition and give future shareholders a longer-term senior management team. There are no plans to raise interim financing.

Go deeper

N.Y. Times faces culture clashes as business booms

Illustration: Sarah Grillo/Axios

New York Times columnist David Brooks' resignation from a paid gig at a think tank on Saturday is the latest in a flurry of scandals that America's biggest and most successful newspaper company has endured in the past year.

Driving the news: Brooks resigned from the Aspen Institute following a BuzzFeed News investigation that uncovered conflicts of interest between his reporting and money he accepted from corporate donors for a project called "Weave" that he worked on at the nonprofit.

America rebalances its post-Trump news diet

Illustration: Annelise Capossela/Axios

Nearly halfway through President Biden's first 100 days, data shows that Americans are learning to wean themselves off of news — and especially politics.

Why it matters: The departure of former President Trump's once-ubiquitous presence in the news cycle has reoriented the country's attention.

2021 sees a record number of bills targeting trans youth

Illustration: Annelise Capossela/Axios

Republicans in at least 25 states have introduced over 60 bills targeting transgender children — a legislative boom since January that has beaten 2020's total number of anti-trans bills.

Why it matters: LGBTQ advocates say the unprecedented push was catalyzed by backlash to Biden's election and the Supreme Court ruling that workers cannot be fired for being gay or transgender.