Catenaa, Sunday, December 22, 2024 – Mo Shaikh, co-founder and CEO of Aptos Labs, has announced his resignation, saying he is ready to “start a new chapter.”
The company’s co-founder and CTO, Avery Ching, will assume the CEO role to steer the blockchain firm through its next phase of growth, according to Shaikh’s post Thursday on X, formerly known as Twitter.
Aptos Labs, a key player in blockchain technology, is the developer behind the Layer 1 blockchain, Aptos. Shaikh highlighted his confidence in the team’s capability to achieve their collective vision, describing the firm as a world-class operation.
An Aptos representative confirmed that Ching will focus on advancing technological innovation and expediting product development to enhance the Aptos ecosystem.
Shaikh’s tenure saw the company gain prominence, but it was not without challenges.
In 2022, he was involved in a now-settled lawsuit related to allegations of depriving an early investor of equity.
In recent months, Aptos Labs has strengthened its advisory board with notable additions, including former Grayscale Investments CEO Michael Sonnenshein and OpenAI Chief Product Officer Kevin Weil.
This leadership shift marks a significant transition for the company as it aims to accelerate its presence in the rapidly evolving blockchain space.
