The personnel change comes just two weeks before Demo Day, when 11 startups out of 1,700 applicants will present to a room full of press and investors.
David Cohen, founder of TechStars, confirmed the news via email stating that Chung wasn't "a good fit." He added that TechStars is built for these kind of swift changes.
"We have full redundancy built into the model and Nicole Glaros has been here all along," Cohen says.
Glaros founded three startups and was Managing Director of TechStars' flagship program in Boulder, Colorado before being named interim Managing Director for Tisch in November. Chung worked for venture capital firm NEA before he was hired by Cohen.
The change is surprising because of the close proximity to Demo Day, and because TechStars was diligent when hiring Chung. Tisch resigned from the position last August and Cohen spent months hand-picking his successor. Chung was selected from a pool of 35 candidates. It's not yet clear what led to Chung's departure or who will replace him.
Chung could not be reached for comment.
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