Gavin Wood, co-founder of Polkadot and CEO of Parity Technologies, the principal backer of the ecosystem, has announced his resignation.
Polkadot ecosystem co-founder Gavin Wood is leaving his position as CEO of Parity Technologies, the business responsible for creating the blockchain technology that powers the ecosystem. On October 21, Wood released a statement in which he said he never intended to be CEO and that he could serve in that capacity temporarily, but it was not a position in which he could find “lasting bliss.”
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. 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 multicoulored boxes on their calendar.
The previous CEO stated his intention to retain his position as chief architect and largest shareholder. Björn Wagner, a co-founder of Parity, has been named CEO. Wood, Aeron Buchanan, TJ Saw, Ken Kappler, Jutta Steiner, and Björn Wagner created EthCore in 2015. A year later, Wagner became a co-founder. In the announcement, Wood elaborated on how he’ll help make Polkadot and Web 3 more useful to a wide audience. His new mission is to “explore how we can contribute to making Polkadot and Web3 more relevant to large swaths of the population,” and he plans to do so by “helping the community design and build several interesting chain-integrated social primitives” that are “crucial for us to deliver a true Web3 platform.”
Wood’s reasons for resigning as CEO are very different from the majority of CEOs, but he does join other high-level executives like Jesse Powell of Kraken and Alex Mashinsky of Celsius who have lately decided to pass over management.
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