A leading altcoin project has appointed its new CEO, effective today. The former CEO, who was “pursuing other interests in the company”, left his project.
Popular altcoin chooses new CEO
Algorand has appointed Chief Operating Officer W. Sean Ford as CEO, effective immediately. Ford will replace G. Steven Kokinos, who left to “pursue other interests.” This urgent decision was given to W. Sean Ford temporarily to fill the vacant CEO position.
Former CEO G. Steven Kokinos, who joined Algorand in 2018 after founding the software development firm Fuze, would serve as a senior consultant at the company until mid-2023. Ford, who joined Algorand in 2018, was previously the marketing manager at software company LogMeIn. Ford oversaw the go-to-market execution and operations at Algorand for a time. He now replaces G. Steven Kokinos, who is “pursuing interests other than the company” and will remain senior advisor until mid-2023.
Company founder Silvio Micali thanks
“We thank Steven for his time and dedication to Algorand,” Micali said in a statement after the incident. Some of the company founder’s statements include:
He was instrumental in the initial success of our business and we appreciate his commitment to a smooth transition… Sean is well positioned to partner with me to ensure company operations continue as usual and help us transform Algorand.
Statements by Steven Kokinos and Sean Ford
Statements by former CEO G. Steven Kokinos:
It has been a pleasure to serve as CEO of Algorand. As we move into this next phase, I am excited about the future of the company and confident that the team will keep things running smoothly.
Statements by W. Sean Ford, who will temporarily replace Steven Kokinos:
I am honored to step in and partner with Silvio during this transition. Algorand has experienced tremendous growth since its inception and we look forward to our continued expansion as we take Algorand to the next level.
The altcoin project has come a long way this year
The company has recently been appointed as the official Blockchain platform of the Fédération Internationale de Football Association (FIFA), football’s international governing body. Thus, Algorand will help the organization develop its cryptocurrency strategy. Algorand also signed a three-year shirt sponsorship with the National Women’s Soccer League team.
FIFA announces partnership with blockchain innovator @Algorand
📸 @MilkenInstitute | #MIGlobal pic.twitter.com/bqCmLFjhnO
— FIFA Media (@fifamedia) May 2, 2022
ALGO ranks 30th by market capitalization. It is currently trading at $0.3111, with +1.5 over the last 24 hours. ATH price has lost more than 90% at $3.28 after the recent sell-off.
