SAN FRANCISCO —
Zenefits CEO David Sacks is stepping down amid speculation that he has been tapped by billionaire technology investorPeter Thiel to assist president-electDonald Trump .In a memo to Zenefits staff, Sacks said late Friday he would become chairman of Zenefits and lead a search for a new CEO.
"The chairman role will allow me to focus on what I do best — product and strategy — while working with a great operator who can help build our small business pipeline. I feel it is best to be public about this search so that we can attract the best candidates," Sacks wrote.
The Wall Street Journalreported late Friday that people familiar with the matter said Sacks would help Thiel, one of Trump's few Silicon Valley supporters, with the transition.
Zenefits spokeswoman Jessica Hoffman denied Sacks would assist the Trump transition team. Thiel, through a spokesman, declined to comment.
"If true, it would be great for America," said venture capitalist
Keith Rabois , a former colleague atPayPal of both Thiel and Sacks. "
via www.usatoday.com