Algorand announced on Wednesday, 27 July that COO Sean Ford was replacing outgoing CEO Steven Kokinos.

Algorand has announced the firm’s COO W. Sean Ford as the Interim Chief Executive Officer (CEO), replacing G. Steven Kokinos as the outgoing exec moves “to pursue other interests.”

The appointment of Ford takes immediate effect (from July 27, 2022), the blockchain firm notified its community of users and investors. Meanwhile, Kokinos, who has been at the company for four years, is set to offer his services as a senior advisor to the firm until mid-2023.

“We thank Steven for his time and dedication to Algorand. He has been instrumental to the initial success of our business, and we appreciate his commitment to a seamless transition,” said Algorand founder and MIT professor Silvio Micali.

Kokinos, who also confirmed his exit on Twitter, thanked the company for the opportunity to serve as CEO, noting that he was confident in the blockchain platform’s future.

He said in a statement: “It has been a pleasure serving as CEO of Algorand. As we move into this next phase, I am excited about the company’s future and am confident that the team will keep things running smoothly.”

Ford, an MBA holder from Harvard University Graduate School of Business, joined Algorand in 2018.