the CEO agreed because (I imagine) he really needed someone to take that position. and as everyone should probably have seen coming, the first time he really wanted to send out a release bugs and all, he called the guy into a room and pretty much browbeat him for an hour about how making the promosed release date was more important than making a good release, until he said "fine but I'm not responsible if it breaks".
the CEO held this up as an example of how he had kept his word not to send the release out without the guy agreeing to it. that startup, needless to say, is long dead.