Gavin Wood is shaking off his CEO title at Parity Technologies, the key backer supporting the Polkadot ecosystem.
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, Bjorn Wagner, will become the new CEO.
In a statement shared with CoinDesk, Wood said he will focus on making Polkadot "more relevant to large swathes of the population" in his new role as Chief Architect.
"This will begin by helping the community design and build several interesting chain-integrated social primitives which I think are crucial for us to deliver a true Web3 platform."
Bloomberg first reported Wood's departure.
UPDATE (10/21/2022 16:32 UTC) Adds comment from representative.
