Blythe Masters, the CEO of software engineering firm DigitalAssets, has stepped down from her leadership role in the firm due to “personal reasons.” AG Gangadhar will immediately assume the position of acting CEO.
Masters has been CEO since 2015 and has an accomplished resume of experience in the traditional financial services world having been a former executive at JP Morgan. Masters, a graduate of Cambridge University, is credited with having created the credit default swap.
AG Gangadhar joined the company’s Board of Directors in April. He has been appointed the Board Chairman and will serve as the acting CEO until a permanent CEO is named.
Masters will continue her role as a board member, strategic advisor and, of course, a shareholder.
Masters issued a statement on the announcement of her departure as CEO:
“Digital Asset has evolved from an ambitious idea to a truly global software engineering firm. We are fortunate to have a deep bench of accomplished executives on the management team and Board, including AG, who have the requisite experience to take the company to the next level. Having come to know and trust AG as an advisor and Board member, I am convinced that he brings what’s needed to guide the company through its next phase.”
Gangadhar, known as AG, brings significant experience to the company. Gangadhar’s engineering background is expected to help the company scale its technology and global operations to meet the growing demand for distributed ledger technology (DLT) solutions in the financial services industry as well as other sectors such as healthcare, supply chain and more.
Commenting on the executive transfer, Gangadhar said that Masters has built an impressive foundation with incredible progress to date, helping the company emerge as an industry leader.
“I’m honored to lead Digital Asset and work alongside the talented management team during this transition until a new CEO is appointed, at which point I will focus on my responsibilities to lead the Board.”
Mike Bodson, President and Chief Executive Officer of DTCC, and member of the Digital Asset board, thanked Masters for her leadership and vision:
“[Masters] has propelled the company from a promising startup to a globally recognized leader in DLT. We are excited to have a world-renowned technologist like AG to help take the company forward.”