In a surprising bit of news, SIX digital exchange (SDX) has announced that their CEO will be vacating his role. Martin Halblaub has held this position for under a year, with his current contractual obligations finishing at the end of August.
It was announced by mother-company, SIX, that this decision was made, as the board and Halblaub disagreed on the future trajectory of SDX. More specifically, Halblaub felt that the soon to launch platform would be better served by breaking off from SIX, and becoming an independent company – the board felt otherwise.
While stepping down from his role as CEO of SDX, Halblaub will remain on as a Senior Advisor.
While the company regroups and decides on future leadership, there will be internal shuffling, for the time being, to fill the gap.
Current Head of Business Management & Services, Tomas Kindler, will act as interim CEO. He has worked with the company in various capacities over the past near decade.
The company notes that while Kindler may potentially retain this new role, an active search for a CEO will ensue.
First to the Table
This transition process comes at a critical juncture for SIX and SDX, and the company is scheduled to soon go live with services. Services to be offered will come with stiff competition as various platforms throughout Europe look to do the same, and establish themselves as the first to the table.
Two examples of such competitors are the following.
Martin Halblaub, Exiting CEO of SDX, stated,
“I fully support SDX’s ambition and business model and would have loved to lead SDX into the future. However, I have decided with a heavy heart – given our differing ideas on strategy, combined with the stretch the role is for my life model – that I cannot engage in a long term commitment as Head of SDX.”
Jos Dijsselhof, CEO of SIX, stated,
“Martin led SDX through its initial phase with great success. He helped shape SDX’s ambition, strategy and business model and has built a strong Management team around him. We thank him for his support during this phase.”
Acting as a subsidiary of Switzerland-based, SIX Stock exchange, SDX is a digital exchange with a focus on tokenized assets. The company was founded in 2018, and operates out of Zurich.
We recently covered SIX and SDX, in a look at the company’s 2019 security token offering. Check out the following to learn more about this event, and hurdles needed to be cleared before launch.
In Other News
While today’s news may not be positive for SDX, various other companies in the digital securities sector have recently made talent acquisitions. The following article discusses a couple examples of this from recent weeks.