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TL;DR: Wealthy man chooses to be less wealthy to be with his family.

Which is not something you hear often. I'm sure the guy could have moved his family across the country. However, the kids would have lost their friends, his wife her family. Instead, he stepped down to step up for his family.

Would YOU give up a CEO salary? I'm not sure I would.

While it is true that he had a choice, let's not belittle the difficulty of the decision. This isn't just about "some job". This is choosing to give up one passion to pursue others.

But yes, I agree (and I think he would too) that he is lucky to be in a position in life where he can actually choose.

From the press release:

"Max Schireson, the company’s current CEO, will become Vice Chairman and remain with the company full time after transitioning the CEO role."

He's not leaving, just taking a different (less time-intensive) role.

That's what you distilled from his post?

So true.