Distributed ledger technology (DLT) provider Digital Asset has announced that Blythe Masters, the company’s CEO since 2015, has asked to step down as CEO for personal reasons.
AG Gangadhar, who joined the company’s board of directors in April, has been appointed the board chairman and will serve as the acting CEO until a permanent CEO is named. The frim says Masters will remain involved in the company as a board member, strategic advisor and shareholder.
“Digital Asset has evolved from an ambitious idea to a truly global software engineering firm,” says Masters. “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.”
Since joining the firm in April, Gangadhar has since been actively involved in the Digital Asset’s engineering and product strategy. He brings significant experience building foundational technology solutions at organisations that include Google, Microsoft, Amazon, Cruise (GM) and Uber. In addition, the firm says, his engineering background will help the company scale its technology and global operations to meet the growing demand for DLT solutions across financial services, healthcare, supply chain and other verticals.
“Blythe has built an impressive foundation with incredible progress to date, helping the company emerge as an industry leader,” says Gangadhar. “I’m honoured to lead Digital Asset and work alongside the talented management team during this transition until a new CEO is appointed, at which point I will focus on my responsibilities to lead the board.”
Mike Bodson, president and CEO of DTCC, adds, “On behalf of the Digital Asset board, I would like to thank Blythe for her leadership and vision, which has propelled the company from a promising startup to a globally recognised leader in DLT. We are excited to have a world-renowned technologist like AG to help take the company forward.”