Ohanian announced his decision in a video posted across social media where he outlined his reasoning. He also said he was donating $1 million to Know Your Rights Camp, an organization founded by Colin Kaepernick.
"I co-founded Reddit 15 years ago to help people find community and a sense of belonging," Ohanian said. "It is long overdue to do the right thing. I’m doing this for me, for my family, and for my country."
The tech entrepreneur further called for a Black candidate to take his position before detailing plans to aid the Black community.
"I’m writing this as a father who needs to be able to answer his Black daughter when she asks: 'What did you do?'" Ohanian wrote along with the video. "I have resigned as a member of the Reddit board, I have urged them to fill my seat with a Black candidate, and I will use future gains on my Reddit stock to serve the Black community, chiefly to curb racial hate, and I’m starting with a pledge of $1M to Colin Kaepernick’s Know Your Rights Camp."
In a tweet, he continued:
"I believe resignation can actually be an act of leadership from people in power right now. To everyone fighting to fix our broken nation: do not stop."
Ohanian's announcement comes just days after dozens of popular subreddits went dark in protest of what many feel is Reddit's inaction against racism on the platform.
Former Reddit CEO Ellen Pao also accused the site of failing to combat racism earlier this week. Pao directed her comments towards current CEO Steve Huffman, who had just published an open letter denouncing hate.
"I am obligated to call you out: You should have shut down the_donald instead of amplifying it and its hate, racism, and violence," Pao tweeted. “So much of what is happening now lies at your feet. You don’t get to say BLM when Reddit nurtures and monetizes white supremacy and hate all day long."