has a new CEO – the third this year has a new CEO – the third this year

The BTC-tied company apparently has difficulty keeping its executive ranks intact

One of the oldest cryptocurrency exchanges and news site,, has announced the appointment of a new CEO. The promotion of Chief Product Officer Dennis Jarvis to lead the company represents the third time the company has changed its top executive so far this year. According to the site’s founder, Roger Ver, this change of leadership was informed to all employees in an internal memo on May 20; he also added that this new appointment happened in the middle of “lagging morale.”

Before Jarvis was announced as the official CEO, the position was occupied by former COO Mate Tokay – appointed just two months ago. He is now stepping down and will be staying as Ver’s ‘right-hand man.’ Before joining the cryptocurrency company as Chief Product Officer, Jarvis worked at Apple and Rakuten.

Back in mid-2019, Ver left his position as the CEO to become chairman. Since then, the company has appointed three different men for that position. Before Jarvis and Tokay, the position was occupied by corporate veteran Stefan Rust; however, a ‘sudden’ downsize in April ended up in Rust being laid off from the company. According to rumors, over 60 people were furloughed just one week after this event. “So Stefan Rust, we left on very amicable terms and it just didn’t turn out to be the right fit long term, but we still love and respect Stefan, and we wish him the very best in the future,” said Ver.

“I know that at times this industry can be chaotic, and we haven’t done enough to mitigate that fact or focus on creating long-term stability— especially lately. I know that this has really affected each of you personally. Many of you have spoken out and I also thank you for that,” added Ver. He changed his position from chairman to founder while he is looking to be less hands-on on the company’s management, but it seems to be harder than he expected.

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