Gavin Wood Resigns from CEO Position at Parity

UTC by Mayowa Adebajo · 2 min read
Gavin Wood Resigns from CEO Position at Parity
Photo: Shutterstock

According to Wood, people like him perform best when they don’t always have to show up to work or are confined to a set timeframe.

A recent Bloomberg report has announced the resignation of Polkadot co-founder Gavin Wood from the position of CEO of blockchain infrastructure firm Parity. The report also notes that the vacancy left by Wood’s action will be filled by his fellow Parity co-founder Björn Wagner.

Gavin Wood Aims to Boost Polkadot and Web3.0 Adoption

Speaking about his decision to step down, Wood recalled that he has never for once yearned for big roles. According to him, he is more interested in coding, designing, and other architectural works. And that’s exactly where his heart lies. In a blog post, he wrote:

“The role of CEO has never been one which I have coveted (and this dates back long before Parity).”

According to Wood, people like him perform best when they don’t always have to show up to work or are confined to a set timeframe. So, by resigning, Wood hopes to focus on ways to improve the adoption of the Polkadot blockchain ecosystem.  But more importantly, he also wishes to contribute to the adoption of Web3.0 on a much larger scale.

The Journey So Far

Recalling his time as CEO, Wood says he spent most of the last two years overseeing the “outfitting “of Parity’s C-suite:

“Parity is the development firm that backs the Polkadot blockchain ecosystem. It was first founded as EthCore in late 2015, while Wagner joined the team about a year later. However, Polkadot didn’t go live until 2020.”

Recently, the blockchain has been making moves aimed at making it even more decentralized. To that effect,  the blockchain dissolved its council in June, announcing a new governance system called Governance version 2 (Gov2).

Wood has a stake in a wide variety of projects including Ethereum, which he also co-founded. He is also the creator of the Kusama network.

Despite stepping down from his CEO role, Wood will continue to be the chief architect at Parity. He will also retain his position as the firm’s biggest shareholder.

Cryptocurrency news, News
Mayowa Adebajo

Mayowa is a crypto enthusiast/writer whose conversational character is quite evident in his style of writing. He strongly believes in the potential of digital assets and takes every opportunity to reiterate this. He's a reader, a researcher, an astute speaker, and also a budding entrepreneur. Away from crypto however, Mayowa's fancied distractions include soccer or discussing world politics.

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