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HomeBankingBolt appoints interim CEO as Maju Kuruvilla departs

Bolt appoints interim CEO as Maju Kuruvilla departs

Date:

  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. 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.

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