Layer 1 Block Chain Aptos's development company Aptos Labs co-founder and CEO Mo Shaikh announced on Thursday that he will step down as CEO of Aptos Labs to "start a new chapter," but will continue to serve as a strategic advisor to help its development.
Shaikh also said that Aptos Labs' other co-founder and CTO Avery Ching will take over as CEO, "driving the company into the next stage of growth." Aptos Labs representatives told The Block that Ching will emphasize technological innovation and accelerate the delivery of new products to promote the development of the Aptos ecosystem.
Shaikh wrote on the social platform X: "Today, I will step down from my duties at Aptos Labs to embark on a new chapter. One of my true passions is building companies from scratch, and we have achieved that goal, building a world-class team at Aptos Labs. As I depart Aptos Labs, I have great confidence in the team and believe that the talent and hard work of Aptos Labs will realize our shared vision in the near future."
Shaikh said he plans to spend some time reflecting on the direction of the world and delving deeper into the development of the financial system, in order to "continue to drive Aptos to become the most mature Layer 1 in this field."
Aptos was founded by the former Facebook blockchain team and, like the Sui Block Chain, is built using the Move language. In November, Aptos Labs appointed former Grayscale Investments CEO Michael Sonnenshein and OpenAI Product Director Kevin Weil to its advisory board.
