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ALGO Algorand welcomes new CEO
The Algorand Foundation announced on September 9 that it has appointed William Herkelrath as its new CEO. Herkelrath officially became CEO of Algorand on August 31.
Herkelrath replaces Staci Warden, who stepped down after nearly five years of leading Algorand. Herkelrath has twenty years of extensive experience in artificial intelligence, enterprise software, institutional finance, and blockchain infrastructure. He was previously co-founder of K3 Labs, the AI-first automation platform, and held leadership positions at Chainlink and Curv.
Warden was appointed CEO in February 2022, during which time he witnessed significant development in the network, including the foundation's relocation from Singapore to the United States earlier this year.
Board changes and strategic direction
With the change of leadership, Algorand also announced changes in board members. Herkelrath and Alex Fowler, chief strategy officer of Nexus Laboratories, joined the board, while Rebecca Rettig and Michael Mosier left.
The appointment comes as the blockchain organization seeks to expand its institutional business and position its technology to deal with emerging quantum computing threats. Currently, the blockchain has enabled post-quantum accounts based on Falcon-1024 (a lattice signature based scheme) and put them into practical use.
According to market data, on the day of the announcement, the price of the $ALGO token was approximately US$0.10, which increased slightly that day.
