Gavin Wood, Polkadot Co-founder Resigns From His position as CEO

Polkadot co-founder Gavin Wood is stepping down as CEO of blockchain infrastructure company Parity Technologies, the company behind Polkadot.

Originally Parity was launched in late 2015 as a startup called EthCore by Wood, Aeron Buchanan, TJ Saw, Ken Kappler, and Jutta Steiner. Björn Wagner joined the group as a co-founder in 2016.

Polkadot’s ecosystem grew rapidly following its launch in 2020, leading many industry observers to view it as a possible Ethereum competitor.

Reason Behind Gavin Wood Resignation

The CEO role was never Wood’s goal, although he could fill the role for an interim period, he didn’t see himself finding “eternal happiness” in it, according to the statement released on October 21.

Wood said, “Anyone who has worked with me knows where my heart lies. I’m a thinker, coder, designer, and architect. Like many such people, I work best asynchronously.” 

Read More: Hackers Steals $300,000 from Olympus DAO, Return The Funds Within Hours

He added, “A good CEO needs to be available to others on a far more continuous basis. They need to enjoy representing the company, both internally and externally. They need to not be bothered by large swathes of their time becoming eaten up in meetings and calls with a plethora of multi colored boxes on their calendar.”

The Replacement

Björn Wagner, Parity’s co-founder, will replace Wood as CEO, according to Wood’s statement. Furthermore, Wood will become the company’s chief architect and remain the company’s majority shareholder.

“I’m happy to announce that Parity co-founder Björn Wagner will step up to the role of company CEO while I retain the title of Chief Architect,” he said on his Twitter account. 

Read More: Okay Bears NFT Reveals New Head Of Development & Engineering

Wood said he will strive to make Polkadot and Web3 more relevant to a broader audience in his new role.

This initiative will begin with him working with the community to design and build multiple chain-integrated social primitives he believes are essential to a true Web3 platform.

For more info regarding Crypto Alpha and NFTs Alpha.  Always follow us on Twitter and Instagram.

Jamilatul Mahmudah

Related post