Polkadot co-founder Gavin Wood steps down as CEO of blockchain infrastructure firm Parity Technologies. Parity is the development company behind the Polkadot ecosystem.
In a statement released on Oct. 21, Wood shared that he never wanted the CEO role. Although he could act as such for an interim period, it was not a position in which he saw himself finding “eternal happiness”.
Wood shared: “Anyone who has worked with me knows where my heart is. I am a thinker, programmer, designer, and architect. Like many such people, I work best asynchronously.” And he added:
“A good CEO has to be available to others on a much more continuous basis. They have to enjoy representing the company, both internally and externally. of multi-colored boxes on your calendar”.
In his statement, Wood announced that Parity co-founder Björn Wagner will succeed him as the new CEO. Wood also shared that he will remain the majority shareholder in the company and will assume the title of chief architect.
I’m happy to announce that Parity co-founder Björn Wagner will step up to the role of company CEO while I retain the title of Chief Architect. https://t.co/A85FeMGZGI
— Gavin Wood (@gavofyork) October 21, 2022
In his new role, Wood said he will help make “Polkadot and Web 3.0 more relevant to large swaths of the population.” You will start this initiative by helping the community design and build various on-chain social primitives that you believe are essential for a true Web 3.0 platform.
Parity was initially founded as EthCore in late 2015 by Wood, Aeron Buchanan, TJ Saw, Ken Kappler, and Jutta Steiner, with Björn Wagner joining the group as a co-founder a year later. Polkadot’s ecosystem saw significant growth after its launch in 2020, leading many industry watchers to consider it a potential smart contract competitor to Ethereum.
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