OnlyFans founder Tim Stokely steps down as CEO

The OnlyFans logo is pictured here in New York, on June 17, 2021. (Gabby Jones/Bloomberg/Getty Images/CNN)

OnlyFans is getting a new CEO after a tumultuous year.

Tim Stokely, the founder of OnlyFans, announced on Monday that he is stepping down as CEO of the video subscription company.

In an Instagram post, Stokely said he is "moving on to new challenges" after five years at the helm of the company.

Amrapali Gan, who joined OnlyFans as its chief marketing and communications officer last year, will take over as CEO.

"I'm passing the baton on to a colleague and a friend, who has the vision and drive to help the organization reach tremendous potential," Stokely said.

Before OnlyFans, Gan was vice president of marketing for the Cannabis Cafe in Los Angeles -- the first cannabis restaurant in the United States -- where she worked on its launch and rebranding after it split from the Lowell Herb Co.

OnlyFans began as a platform for celebrities and sports personalities to produce videos and photos to share with subscribing fans.

But the U.K.-based company became known for sexually explicit and other adult content.

In August, OnlyFans announced it would ban sexually explicit content, under pressure from its banking partners. But the company reversed the decision days later, following backlash from content creators. Sex workers said they had helped create the company's success and popularity only to be left in the dust. OnlyFans said it was eventually able to secure funding to continue allowing all manner of content on its platform.

OnlyFans says it has paid out more than $5 billion to 1.5 million creators to date.