SAN FRANCISCO (KPIX 5) — San Francisco’s trendy Four Barrel Coffee is renaming itself and transitioning to an employee-owned business amid sexual misconduct allegations against a now-former co-founder.

The San Francisco coffee company Four Barrel Coffee will now be called The Tide.

The change comes after co-founder Jeremy Tooker was sued for sexual assault and harassment by employees. He has agreed to leave the company and relinquished all of his shares.

Related: Four Barrel Coffee Founder Accused of Sexual Assault, Harassment

The two remaining owners will gradually sell their shares to workers.

The company states, “We began asking ourselves the hard questions about what we could have done differently to keep our employees safe and comfortable.”

Tooker is no longer with the company.

“…today we can safely say Four Barrel died with his departure,” the remaining owners Jodi Geren and Tal Mor, said in a statement.

The remaining co-founders decided to give his shares to employees and said they will then divest from the company, making it 100 percent employee-owned.