Young CEO Delane Parnell Leaves $400 Million Gaming Company To Build New Business

Delane Parnell is leaving amateur esports platform PlayVS, which he founded, to build a new business.

PlayVS announced that Parnell is stepping down as chief executive officer after six years. Joe Gibson, who joined the company almost four years ago, will take over as CEO during the search to find Parnell’s replacement.

Parnell will remain on the board of directors and serve as a senior advisor during the interim period

“I’m extremely proud of what we’ve achieved at PlayVS in only a few years,” Parnell said in a written statement. “Leading such a talented team has been an honor, and developing an innovative product that has created so many opportunities for an underserved audience has been a dream come true. It has been humbling to serve as a role model for Black tech founders in gaming, and I hope that my example inspires others to break down barriers in the industry. I’m excited to see PlayVS continue to grow and make a positive impact on the world of gaming and education.”

Parnell started internal discussions with the board last year, informing members of his desire to step back and focus on a new project. The parties agreed earlier this year to start a CEO search.

“While we are sad to see Delane step down, we’re proud of the cultural impact he’s made in the lives of millions of high school students’ lives and we’re confident that he’s paved the way for PlayVS’ continual growth,” said Michael Jones, a PlayVS board member. “Delane’s hard work and commitment have been integral to the company’s achievements thus far, and we appreciate his support through this transition, ensuring PlayVS’ continued success.”

PlayVS was started in 2018 with the intention of bringing amateur esports programs to students natioinwide, opening up opportunities to college students and as a career. It also helped to advance students’ personal and academic development.