Recently, Steven Kokinos, blockchain protocol Algorand’s chief executive officer, has announced he will leave position to focus on scaling adoption related projects.
— Steven Kokinos (@stevekokinos) July 27, 2022
Kokinos mentioned his role transition as Algorand’s CEO from October 2018 after his departure from software development company Fuze, according to his Twitter thread on Wednesday.
Based on Algorand’s statement, Kokinos will be their senior adviser involved in important projects until 2023. As for W. Sean Ford, former chief operating officer, he will assume his newfound role as the interim CEO.
Algorand’s founder, Silvio Micali, remarked that Kokinos has been a vital part of their business’s initial success, and appreciated his commitment to seamless transition. Micali also added that he is well positioned to partner with the founder to keep Algorand’s business operating as usual, and provide assistance to further the company’s growth.
The announcement has not affected the price of Algorand’s token (ALGO). In September 2021, the ALGO price has dropped roughly 87% since reaching an all-time high of $2.37.