Kraken, one of the oldest cryptocurrency exchanges in operation, announced the appointment of Dave Ripley as the new Chief Executive Officer amid the stepping down of the Co-Founder, Jesse Powell from the apex role. Powell will now become the Chairman of the exchange’s board.
Ripley is an insider, who joined Kraken in October 2016 as the Chief Operating Officer.
“Dave’s proven leadership and experience give me great confidence that he’s the ideal successor and the best person to lead Kraken through its next era of growth,” Powell said in a statement. He further confirmed his extended involvement, as the Chairman, “on the company’s products, user experience and broader industry advocacy.”
Ripley has taken over as the CEO when Kraken is going through an expansion phase and reportedly facing a federal investigation in the United States for the alleged violation of sanction rules.
Additionally, the press release highlighted Ripley’s role in scaling its operations and his involvement in more than 16 acquisitions, regulatory licenses and partnerships.
An Experienced Executive
Ripley comes with a technology background and has almost 25 years of work experience. He joined Kraken in late 2016 with its acquisition of Glidera, a Chicago-based company he co-founded and headed as CEO.
He started his career in 1998 in Software centric roles, working with companies like National Instruments, Lucent Technologies and Syclo. Later, he joined the Boston Consulting Group where he advised top company executives on strategic priorities.
“My vision, along with the rest of the leadership team, is in lockstep with Jesse’s, to accelerate the adoption of cryptocurrency,” Ripley said in a statement.
Meanwhile, Kraken made a few other changes in its top management earlier this year. The company onboarded Mayur Gupta as the Chief Marketing Officer and appointed Carrie Dolan as the Chief Financial Officer.
