Elizabeth Holmes, CEO of failed blood-test startup Theranos, is finally stepping down as head of the company. In spite of being outed for running a $9 billion scam, the 34-year-old entrepreneur apparently still led Theranos until Friday, when the board announced her departure. She will remain as the chair of the board, according to Business Insider.
Holmes founded Theranos in 2003, under the pretense of “revolutionizing” the multibillion-dollar blood-testing industry. Despite being valued at $9 billion and employing over 800 people, Holmes’ blood tests were never properly validated or externally vetted, even as they first became available at Walgreens in 2013. And though the first sign of trouble appeared all the way back in 2015, Holmes has somehow remained head of the company until now. It truly is the year (decade?) of the scammer.