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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

China builds its own movie empire

Expand chart
Data: Gower Street citing Comscore; Chart: Kavya Beheraj/Axios

China blocked all four of Disney's Marvel movies from being released in its theaters last year, a grim sign for U.S. film giants being squeezed out of the world's fastest-growing box office.

Why it matters: The Chinese Communist Party is using domestic films as a key conduit for mass messaging aimed at achieving political goals, leaving little room for foreign views.

Distrust in political, media and business leaders sweeps the globe

Illustration: Sarah Grillo/Axios

Trust in government is collapsing, especially in democracies, according to a new global survey.

Why it matters: People also don't think media or business leaders are telling them the truth, and this suspicion of multiple societal institutions is pushing people into smaller, more insular circles of trust.

Great Resignation boosts White House's tech talent hunt

Illustration: Aïda Amer/Axios

The Biden administration wants to capitalize on the Great Resignation to fill thousands of expected government tech and cybersecurity jobs.

Why it matters: The administration wants to remake how government websites deliver services and improve the nation's cybersecurity, but it will need skilled workers to make it happen.