Rick Hammell, the founder of the world's largest employer of record, Atlas, is stepping back from his role as CEO and taking up the position of Executive Chairman instead.

In his 10 August announcement, Hammell explained that despite his firm's rapid growth and success, he is not content with what he has achieved with Atlas, and is setting his sights on new horizons.

"Innovation and pushing the boundaries to help other businesses scale quickly has always been a passion of mine, and I was able to accomplish this when I founded Atlas, but Employer of Record is not enough," he said.

"As the human experience market continues to rapidly grow, I believe now is the time for me to expand my focus and invest in new solutions that will address how global businesses manage their diverse global workforce. There are many gaps in the service-enabled technology world and I see a huge opportunity to create and build even further than I could at Atlas."

Hammell founded Atlas in 2015 as Elements Global Services, one of the first companies to provide direct employer of record services. From a staff of 10, Elements grew to over 500 with a presence in 160 countries in just eight years. The company rebranded as Atlas last year when it launched its SaaS-based HXM platform.

Now, with Atlas firmly established, Hammell is giving every signal that he is not yet done with his entrepreneurial journey.

"I am looking forward to changing the industry again by investing in new ventures that will help companies compete in a borderless world," he said, adding that he may be focusing on solutions "to create a stronger working culture for employers and their employees."