Polkadot Co-Founder Gavin Wood Steps Down From CEO Role at Blockchain's Builder: Report

Gavin Wood is shaking off his CEO title at Parity Technologies, the key backer supporting the Polkadot ecosystem, according to a Bloomberg report.

Wood, a longtime crypto developer who co-founded Polkadot after exiting the Ethereum Foundation in 2015, will remain a majority shareholder in Parity Technologies, the report said. His co-founder Björn Wagner will become new CEO.

A representative at Parity did not immediately return a request for comment.

This is a developing story.