Polygon Labs Shakeup Sees President Out And A New CEO

Polygon Labs Shakeup Sees President Out And A New CEO

President of Polygon Labs, Ryan Wyatt announced that he would step down from his role by the end of the month. Marc Boiron, the Chief Legal Officer, will be his replacement.

Coming from an esports and gaming past, Wyatt had first taken the position at Polygon Studios as its Chief Executive Officer in February 2022.

He then transitioned into the role of the president later of Polygon Labs, after its new branding.

Wyatt’s role

Under Wyatt’s leadership, Polygon had been named the 2022 Project of the Year of Decrypt. The ecosystem had been able to shake off the dust from the collapse of Terra and then FTX.

It had done so by onboarding some prominent brands, which included Instagram, Starbucks, and Reddit. He will not take the position of advisor.

His place will now be filled by a well-known Web3 expert, Marc Boiron. He had previously been heading dYdX Trading’s legal department and had also been advising Uniswap Labs and Compound Labs before joining Polygon.

He tweeted that serving the company and the community was a privilege and he was eager to do so to mark the beginning of the Polygon 2.0 era.

Boiron’s replacement

The role of chief legal officer that Marc has vacated will now be filled by Rebecca Rettig, who had been serving as the chief policy officer for the last seven months at Polygon Labs.

She had also played a key role in the rollout of The Value Prop. She had previously been at Aave Labs as CL/PO and had also served briefly on the board of the Silvergate Bank, which is now defunct.

Rettig and Boiron have been longtime law partners and she also took to Twitter to share her excitement about working with him again.

She stated that she was downright thrilled to be working with Marc.

Other details

Rettig was not the only one who was pleased with the changes. The executive chairman and co-founder of Polygon Labs, Sandeep Nailwal, also talked about the same on Twitter.

He talked about Marc and said that he was known for being an innovator and experienced in Web3, which means he has an in-depth knowledge of Web3 tech.

He also said that Marc had also advised a number of crypto funds in the market and had helped a number of them become successful protocols in the decentralized finance (DeFi) space.

In late June 2023, Polygon Labs disclosed their plans for Polygon 2.0 in their efforts to transform into the ‘value layer of the internet’.

The native token of the Polygon network is known as MATIC, but it seemed mostly unfazed by the leadership shakeups that seem to be happening within the company.

At publishing time, the MATIC token had recorded an increase of 0.8% in the last 24 hours and was trading at a value of $0.67.