Gavin Wood steps down as Parity Technologies CEO

Polkadot and Ethereum co-founder Gavin Wood, who withdrew himself from the Ethereum Foundation in 2015, has resigned from his position as CEO of Parity Technologies, the main contributor to the network’s infrastructure.

According to the announcement, Wood will still be directly associated with the company, by being one of the majority shareholders and as a new role of its “Chief Architect.” He mentioned that rather than running a business, coding is his passion.

Björn Wagner replaces Gavin Wood 

Wood’s departure, which was initially announced by Bloomberg, invited Björn Wagner, one of the Parity’s co-founders, to fill the role of the CEO. Parity’s former CEO commented on his resignation by stating:

“The role of CEO has never been one which I have coveted. I can act at being a CEO well enough for a short while, but it’s not where I’m going to find eternal happiness.”

The crypto developer assured that he will be focusing on Web3 technologies and coding new blockchain with “chain-integrated social primitives” to make it more accessible by the wider populace. He quoted this new idea as “relevant to large swathes of the population” Polkadot’s co-founder speaks further about his upcoming development:

“This will begin by helping the community design and build several interesting chain-integrated social primitives which I think are crucial for us to deliver a true Web3 platform.”

Ethereum co-founder Gavin Wood developed Polkadot with a unique and intelligent approach to improve blockchain scaling and connectivity. It has continuously ranked among the top 10 so-called layer 1 blockchains by market cap.

Amid the ongoing crypto winter season, the recent resignation of the former CEO Gavin Wood adds him to the list of departers continues during the recent months as many CEOs from big firms announced their step down. This includes Genesis CEO Michael Moro, Celsius CEO Alex Mashinsky, Voyager Digital CFO Ashwin Prithipaul, Kraken CEO Jesse Powell, among others.