Blythe Masters, the Chief Executive Officer [CEO] of Digital Asset Holdings, the company that builds products on distributed ledger technology, has stepped down from the position at the blockchain startup she was a part of for three years.
The announcement about Masters’ exit was made by the company on Tuesday, however, she will remain a shareholder, strategic advisor and member of the company’s board of directors. The company also announced the reason for Masters stepping down from the post as personal, reported Fortune.
An excerpt from the note Masters sent to the employees stated that:
“Working as part of the DA family means the world to me, but I also work for my family’s future and I need to focus on this for a while.”
AG Gangadhar is temporarily replacing Masters. Gangadhar joined the company’s board in April and was appointed as its Chairman. He will assume the position of CEO until the firm finds a new Chief Executive Officer, as per the press release.
Masters in a statement said that the company has progressed from an idea to an operating technology firm all over the world. She also praised her temporary successor, Gangadhar and had reportedly said:
“We are fortunate to have a deep bench of accomplished executives on the management team and Board, including AG, who have the requisite experience to take the company to the next level. Having come to know and trust AG as an advisor and Board member, I am convinced that he brings what’s needed to guide the company through its next phase.”
The successor has immense experience as he has been a part of prestigious organizations like Google, Amazon, Uber, and Cruise [General Motors].
Masters had joined the company in 2015 when the company was formed and was tasked with heading Digital Asset Holdings. The company since then has collaborated with many others, some of which include the Depository Trust and Clearing Corporation, Google Cloud and the Australian Securities Exchange.
Masters was also appreciated by Michael Bodson, President and CEO of the Depository Trust and Clearing Corporation and a member of the Digital Asset board. Bodson said:
“Her leadership and vision … has propelled the company from a promising startup to a globally recognized leader in DLT. We are excited to have a world-renowned technologist like [Gangadhar] to help take the company forward.”
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