Bolt appoints interim CEO as Maju Kuruvilla departs

Leadership Change at Bolt:
- Maju Kuruvilla, who served as CEO of San Francisco-based fintech Bolt for over two years, has departed from the company.
- Kuruvilla took over as CEO in January 2022 from Ryan Breslow, who transitioned to the role of chairman.
Appointment of Interim CEO:
- Justin Grooms, the company’s global head of sales, has been appointed as Bolt’s interim CEO following Kuruvilla’s departure.
Reasons for Departure:
- The departure of Kuruvilla reportedly came after the fintech’s board voted to remove him, as per a report by The Information.
- Despite the board’s decision, the split is described as amicable by both parties.
Kuruvilla’s Contributions and Progress:
- During his tenure, Kuruvilla highlighted Bolt’s progress, including the adoption of its e-commerce checkout solution by multiple publicly traded, multi-billion dollar brands.
- He also noted the growth of Bolt’s API-based shopper network from 10 million to over 80 million users.
Forward-looking Approach:
- Bolt’s spokesperson expressed confidence in the current leadership team’s ability to steer the company forward and emphasized the firm’s commitment to innovation in the e-commerce industry.