The news was officially released on October 21, 2022. Gavin Wood is stepping down as CEO at Parity Technologies to make way for Björn Wagner. He has been responsible for it for 2 years within this blockchain infrastructure company of which he is the founder.
“The role of CEO was never the one I coveted”, says Gavin Wood
In his statement published on October 21, Gavin Wood emphasizes an essential point: his role as CEO. He specifies that such a function has never been made for him. He was expected to spend most of his time attending meetings and representing the blockchain infrastructure company overseas.
Missions that did not allow him to flourish as an architect, he explained while adding that he is above all “a thinker, a coder and a designer, rather than a CEO”. This is why he decided to be replaced by Björn Wagner, another co-founder of Parity Technologies.
Gavin Wood remains majority shareholder of blockchain infrastructure company
Admittedly, Gavin Wood handed over the management of Parity Technologies to co-founder Björn Wagner. This does not mean that he leaves the company. This well-known personality of the blockchain ecosystem remains the majority shareholder of the company. More importantly, he will participate in the development of Parity Technologies. To do this, he will assume another role.
Concretely, Gavin Wood will focus his efforts and his skills on a specific objective: to make Polkadot and Web3 more relevant for large sections of the population. No longer as CEO, but under the cap of chief architect.
To better devote himself to his passion and the work that is close to his heart, Gavin Wood thought it best to entrust the reins of Parity Technologies to Björn Wagner. From now on, he will contribute to the development of his company as chief architect, but no longer as CEO.
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