Bitcoin.com has its third CEO in 3 months, following the promotion of Chief Product Officer Dennis Jarvis to the peak job.

Founder of the crypto exchange and news site, Roger Ver, revealed the change of leadership had come amid "lagging morale" at the company in an internal memo to all employees on May xx.

He said that former COO Mate Tokay — appointed just ii months ago — would step downward immediately and thanked him for his brief time at the helm. In April, Tokay was announced as 'CEO' rather than 'acting CEO'. He'll be staying on as Ver's 'correct paw man'.

Before joining Bitcoin.com new CEO Jarvis worked at Apple and Rakuten.

A turbulent history

The company has now appointed three new CEOs, since Roger Ver stepped downwardly equally CEO to become chairman in mid-2019. Corporate Veteran Stefan Rust was the first to take over, however a 'sudden' downsize in April this year saw Rust out followed by a rumoured 60 other employees i week after.

During Virtual Blockchain Week Ver shed some light to Cointelegraph nigh the motion:

"So Stefan Rust, we left on very amicable terms and it just didn't turn out to be the right fit long term but we still dearest and respect Stefan and we wish him the very best in the future."

Chaotic times and waning morale

The latest alter of leadership was attributed to the "cluttered" times the manufacture has faced along with the visitor'south response:

"I know that at times this industry can be chaotic, and we oasis't washed enough to mitigate that fact or focus on creating long-term stability— especially lately. I know that this has really afflicted each of you personally. Many of you accept spoken out and I too thank yous for that."

Ver also announced a simpler executive structure and said the leadership team would exist based in Tokyo, Japan. Ver has changed his title from Executive Chair to Founder and promised to be less hands on:

"It is now necessary more than e'er for me to once and for all stride dorsum from agile twenty-four hour period-to-day management of Bitcoin.com. I didn't reach this decision lightly given the current circumstances, but I feel information technology'southward the best manner for me to help rebuild morale."

At Virtual Blockchain Calendar week Cointelegraph asked Ver about whether his 'hands on' approach had been a factor in Rust'southward departure:

"I'thousand still pretty hands on although I'm looking to have a little flake more private time in my life, information technology's been, yous know, almost 10 years full time every day all solar day and the goal was hiring, you lot know, a different CEO and so that I would have a little flake more private fourth dimension in my life. That hasn't worked out that way yet. I'm still hopeful and optimistic that at some point, that'll be the instance but that hasn't been the example yet."