Algorand CEO is leaving, COO Moving Up

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The Algo­rand CEO is leav­ing and the cur­rent COO is tak­ing over the inter­im CEO posi­tion effec­tive immediately.

Algorand CEO is leaving, COO Moving Up
Pho­to by Raz­van Chisu / Unsplash

It was announced this week that the cur­rent Algo­rand CEO, Steven Koki­nos, is leav­ing the com­pa­ny to “pur­sue oth­er inter­ests.” The cur­rent COO of Algo­rand, Sean Ford, will be act­ing inter­im CEO effec­tive imme­di­ate­ly. Ford joined the com­pa­ny back in 2018 com­ing from Log­MeIn where he was the Chief Mar­ket­ing Offi­cer, and has since been work­ing on Algo­rands go-to-mar­ket strate­gies and operations.

It’s fair to say the com­pa­ny has been suc­cess­ful under Koki­nos. Algo­rand has many large scale part­ner­ships in place which came to be under his tenure, some notable ones are: offi­cial part­ner of FIFA, Uni­ver­sal Music Group, NFTs and gam­ing being built by The Drone Rac­ing League, part­ner­ships with Mia­mi for air qual­i­ty mon­i­tor­ing, and a gov­ern­ment lev­el part­ner­ships with Nigeria.

The blockchain itself sees mil­lions of dai­ly trans­ac­tions using ALGO with a great track record in terms of down time. There are 26M wal­let address­es, ~1400 active nodes, con­sis­tent­ly low fees, and main­tains a car­bon neg­a­tive footprint.

It’s not yet clear where Koki­nos is going, but he has stat­ed that he will be act­ing as an advi­sor to Ford on the tran­si­tion through mid 2023. It seems unlike­ly that Koki­nos is leav­ing on bad terms, and Ford has a long his­to­ry of work­ing on high lev­el posi­tions at tech com­pa­nies, over­all there are no red flags with the change. The mar­ket large­ly agrees with that, as the price has been indif­fer­ent to the news.



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