Companies

Ledger appoints Pascal Gauthier as new CEO

April 24, 2019, 12:01PM EDT

There's been an executive shakeup at Ledger as the crypto custody provider sets its sights on drawing in institutional money. Ledger’s president Pascal Gauthier has been appointed the company’s new CEO, replacing Eric Larchevêque who will take over as Executive Chairman of the Board. The news has been announced via an internal email from Ledger’s leadership.

 “While countless retail hodlers trust Ledger to secure their crypto, companies who manage huge amounts of crypto, like institutional investors, family offices and exchanges are also starting to trust us,” Gauthier wrote, now be responsible for executing the development strategy. The company has already set the strategy in motion, having recently announced Ledger Vault, a custodial solution designed with institutional investors in mind following the launch of Ledger Nano X—a hardware wallet—earlier this year.

Meanwhile, Larchevêque will step aside to focus on "vision," as well as overseeing regulatory and government outreach.

“The crypto market is constantly going through extreme change cycles, and being able to forecast the right moves is instrumental to the success of Ledger," he said, acknowledging this would be best achieved by the management switch-up.