Crypto exchange Kraken is making some big changes, including a new CEO and a shakeup of its staff. The company is aiming to become the top crypto exchange in the world and says it needs to be more efficient and agile to reach that goal.
Streamlining for Success
Kraken’s co-CEOs, Arjun Sethi and Dave Ripley, say they’ve fallen into a trap of creating too many layers of management. This, they say, has led to managers focusing on the wrong things. To fix this, Kraken is making some tough decisions, including eliminating some management roles.
“We need to make sure our best people are focused on building great products, not just managing,” said Sethi. “This means giving our leaders more power to build amazing products and use data to make decisions that are best for our customers.”
New Leadership, New Direction
Arjun Sethi, co-founder of Tribe Capital, has been appointed as co-CEO alongside Dave Ripley, who has been CEO since April 2023. This new leadership team is leading the charge on these changes.
While these changes are designed to make Kraken more successful, they will affect some employees. Kraken says they are committed to supporting those impacted by the changes.
