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Looking at the extreme market conditions, many crypto firms are laying off their employees while Parity Technology is doing the opposite
Change in the leadership brings the notion that the company could take new and different moves further like never before. While expansion in the leadership team brings saturation in ideas, a broader perspective adds more value that eventually directs the company to take more refined and bold steps. Meanwhile, where the crypto industry has seen many crypto firms laying off their employees in the wake of the financial downturn, and as a step of cost-cutting, Polkadot creator company took a different approach.
However, this move of Parity Technologies is no way in comparison to other firms’ layoffs; instead, it’s about its move towards expanding its executive team. The firm behind building prominent blockchain systems like Polkadot and Kusama has recently added three people intending to give senior job roles in the company. These new hires will act as added teammates in the leadership team of Parity Technologies, who will work alongside Gavin Wood, founder, and CEO of the company.
Description of new executives joining Parity Technologies is as follows: Eran Barak, who is going to join the company as Chief Operating Officer (COO), Peter Ruchatz will take his position as Chief Marketing Officer (CMO), and Fahmi Syed will serve as Chief Financial Officer (CFO) within the company.
Eran Barak is a Tel Aviv University graduate in Computer Science, while his past job experiences include his senior roles at prominent firms like Amdocs, Thomson Reuters, and Symphony Communications. Newly appointed CMO of Parity, Peter Ruchatz, had been at Microsoft and Salesforce in senior positions. Fahmi Syed had earlier served at FIFTHDELTA as COO, the hedge fund launched in 2021 and has about $1.25 billion worth of AUM. Syed also was part of Marshall Wace, another prominent hedge fund.
In November last year, former CEO of Parity Technologies Jutta Steiner stepped out from her position in the company that Gavin Wood had taken over from there. As far as the new hirings are concerned, this indicates that despite the extreme market conditions, Polkadot and Parity Technologies hold good positions.
ALSO READ: Is This The End Of The NFT Sector, Or Is It Preparing For A Comeback?
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
