John Doerr, a partner at Kleiner Perkins Caufield & Byers (KPCB), will become the first chairman of the Menlo Park, California-based venture capital investment firm.
Doerr will remain deeply involved in the daily life of the firm, he said in a blog post on the firm's website on Thursday, continuing to invest on behalf of its funds and his family foundation, as well as serving on investment committees
The main reason he is stepping back as a manager is to help groom the next generation of partners
“I see this chair role as a 'player coach,'” he wrote. “For over four decades, KPCB has successfully developed new generations of partners. I'm super enthused about our nextgen leaders and the future.”
Doerr joined KPCB in 1980 and has since backed some of the most successful startups including Google, Amazon and Intuit, where he began his technology career in 1974. He's also led the investment in Twitter
“As I become chair, our tenured partners – Ted Schlein, Beth Seidenberg and Mary Meeker – will continue to lead with a new generation of managing members – Mike Abbott, Eric Feng, Wen Hsieh and Mood Rowghani,” he wrot
KPCB, which also has an office in San Francisco, invests in all stages from seed to growth companies. The firm was involved in a gender discrimination lawsuit brought by former employee Ellen Pao in 2012 that ended in a trial a year ago with a jury voting down her accusations.