Blythe Masters, managing director of the distributed accounting technology provider Digital Asset Holdings, resigned after three years of management of the company.
The company announced Tuesday that Masters will remain as a shareholder, strategic advisor and a member of the company's board of directors, but will leave its position as CEO for personal reasons. The start was reported for the first time by Fortune.
It will be temporarily replaced by AG Gangadhar, who joined the board last April and was named president. He will serve as CEO while the company looks for a new CEO, according to a press release.
In a statement, Masters stated that the company has "evolved" from the idea of operating as a technology company all over the world. She praised Gangadhar, saying:
"We are fortunate to have a strong team of experienced management team and board executives, including AG, who have the necessary experience to bring the company to the next level, having come to know and trust in AG as an advisor. and a member of the board of directors, I am convinced that he brings what is needed to lead the company in its next phase. "
Gangadhar has already worked in Google, Microsoft, Amazon, Cruise (GM) and Uber, depending on the version.
Masters founded Digital Asset in 2014, which has since grown to work with companies such as Depository Trust and Clearing Corporation, Google Cloud and the Australian Securities Exchange.
Michael Bodson, president and CEO of the Depository Trust and Clearing Corporation and member of the Digital Asset Board, thanked Masters in a statement, stating that "his leadership and vision … pushed the company from a promising startup to a recognized global leader in the DLT We are thrilled to have a world-renowned technologist [Gangadhar] to help carry on the company. "
Blythe Masters on the stage of the DC Blockchain Summit, March 2015. (Photo credit: Michael del Castillo)