ALPHARETTA, Ga. - Bakkt Holdings, Inc. (NYSE: BKKT), a crypto economy company, has announced a change in leadership with Andy Main set to take over as President and CEO starting March 26, 2024. Main will be succeeding Gavin Michael, who is stepping down to explore new opportunities but will remain as an advisor through March 2025.
Main, a current board member since Bakkt's public listing in 2021, brings extensive experience to his new role. Previously, he led Deloitte Digital's growth into a multi-billion dollar business and transformed Ogilvy into a leading creative agency.
His tenure at Bakkt has involved advising the sales and marketing teams, and he is expected to leverage his expertise to expand the company's institutional crypto capabilities and client base, as well as drive international growth and progress toward EBITDA breakeven.
Michael's tenure as CEO saw significant developments for Bakkt, including its public listing, the relaunch of its institutional custody solution, the formation of critical partnerships, and the acquisition and integration of Apex Crypto. Sean Collins, Chairman of the Board, praised Main's proven track record as a "company builder and change agent" focused on creating shareholder value.
Concurrent with the leadership transition, Bakkt has rescheduled its conference call to discuss fourth quarter and full year 2023 financial results for Monday, March 25, 2024, at 5:00 p.m. ET.
Main plans to outline his strategy for enhancing shareholder value during the call, emphasizing the company's strengthened position following a recent capital raise and cost-saving measures approved by the New York Department of Financial Services (NYDFS).
Main also intends to build upon Bakkt's product foundation and scale the business efficiently, capitalizing on the crypto market opportunity. The company, founded in 2018 and based in Alpharetta, GA, focuses on providing institutional-grade custody, trading, and onramp capabilities for crypto involvement.
This article is based on a press release statement from Bakkt Holdings, Inc.
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