Steven Kokinos Steps Down as CEO of Algorand, ALGO Up 6.2%
- Algorand has called its COO Sean Ford to step in as the interim CEO.
Algorand, a leading blockchain tech firm, has announced the appointment of an interim CEO following the departure of Steven Kokinos. Algorand’s COO, Sean Ford, will step in as the interim CEO pending the appointment of a permanent successor to Kokinos. According to the announcement, Kokinos will remain in an advisory till the middle of next year.
Koninos said he is leaving Algorand to pursue other interests. Kokinos, the founder of Fuze, a software development company, joined Algorand four years ago. Algorand founder, Silvio Micali, thanked Steven for his contribution to the growth of Algorand.
He added that Kokinos was pivotal to the groundbreaking progress the company made. However, Micali added that the interim CEO has the necessary experience to guide the company’s transition into its next growth phase. As the COO, one of Ford’s primary responsibilities was market execution and operations. Such operations include worldwide community development, product management, marketing, and engineering.
The board changes haven’t had any effect on Algorand’s native token; it remains 90 percent down from its peak price of September 2021. Micali (an MIT professor and Turing award winner) founded the fully decentralized and scalable Algorand blockchain five years ago.
Algorand at a Close Glance
Algorand is a platform for developers to build products and services for a zero-boundary economy. In his response, Kokinos said he is confident that the company’s operations will keep running smoothly despite his departure. The interim COO, Sean Ford, said he is excited about the future for the blockchain firm and is proud to make critical contributions toward realizing the company’s objectives.
Ford is a widely experienced marketing executive. He has previously worked in the marketing departments of Avid Technology and LogMein. Ford was the latter firm’s Chief Marketing Officer (CMO). Also, he has held various executive roles at one time or the other in various companies. He was Oracle’s Global Business unit Vice-President, the CMO at SyncSort, and the double role of CMO and COO at Zmags.
Ford’s professional career kicked off at Monitor group, where he would later spend seven years as its senior strategy consultant. As a co-founder of Upromise Inc., in 1999, he served as the company’s vice president of product marketing and management. Before his MBA at Havard University Graduate School of Business, Ford earned a BA in English from Williams George.
Algorand has made significant milestones in growth this year. Recently, the international world soccer governing board, FIFA (Federation Internationale De Football Association), appointed Algorand as its official blockchain for the upcoming world cup in Qatar.
Under the terms of the agreement, the company will also be the official blockchain partner at FIFA’s women’s world cup, to be jointly hosted by New Zealand and Australia in 2023. Also, Algorand will help FIFA develop a digital asset strategy. The male and female world cups will provide huge media exposure for the blockchain firm.
According to our crypto market data, the ALGO digital asset is up 6.2 percent to trade around $0.326131. Kokinos left Algorand with a market capitalization of $2,264,696,409 and ranked at position 32 out of thousands of tokens available.
Rebecca is a Senior Staff Writer at BitcoinWisdom, working hard to bring you the latest breaking news in the cryptocurrency market. In the words of Elon Musk “Buy stock in several companies that make products & services that *you* believe in. Only sell if you think their products & services are trending worse. Don’t panic when the market does. This will serve you well in the long-term.”
