Tim Stokely, the founder of subscription platform for adult content creators OnlyFans, has handed over the role of CEO to his marketing officer Amrapali Gan.
Mr Stokely, 38, who founded the company in 2016, congratulated Ms Gan in a social media post.
She is a “colleague and a friend” who has “a deep passion” for OnlyFans, he said.
Ms Gan, 36, said her appointment was “an incredible moment” and that she was honoured to take over.
She said in a statement: “I am proud to assume this role. I look forward to continuing to work closely with our creator community to help them maximise control over, and monetise, their content.
“We are committed to being the safest social media platform in the world.”
She told the Financial Times that Mr Stokely was stepping down as he was “keen to take some well-deserved time off over the holiday season before focusing on new projects”.
Mr Stokely did not say what he planned to do after leaving his role.
He has spent five years at the top of the firm, taking it from launch to a site with 180m registered users worldwide.
OnlyFans sparked controversy earlier this year when it announced a ban on sexually explicit content only to reverse the decision five days later.
Mr Stokely blamed the ban on pressure from banks. He claimed the company's accounts had been terminated and that it had struggled to transfer payments to the pornographic content creators who use its service.