Argo Blockchain PLC’s Peter Wall to step down as chief executive

London-listed cryptocurrency miner Argo Blockchain PLC (LSE:ARB, OTCQX:ARBKF, NASDAQ:ARBK, ETR:0XP) has announced that Peter Wall will step down from his positions as chief executive and interim chairman to pursue other opportunities. 

The board has appointed chief financial officer Seif El-Bakly as interim chief executive, while Matthew Shaw has been appointed as chairman of the board.

Commenting on his decision to step down, Wall said: “It has been a great privilege to have led Argo Blockchain over the past three years. It has been quite a journey, and we have come a long way. 

“I am pleased to have recently led the successful Galaxy deal, and I thank all my colleagues at Argo for their dedication, support, and enthusiasm in driving Argo forward. Onwards and upwards!”

Shaw commented: “Peter has created a strong foundation for Argo which is a confident organisation full of talented people, aligned behind a clear strategy and focused on delivering profitable growth and market share gains. 

“On behalf of the board and everyone at Argo, I would like to thank Peter for his many achievements and wish him every future success.”

Argo intends to engage an executive search firm to assist with the process of selecting a new chief and will update the market in due course. 

Wall has agreed to remain as an advisor to Argo over the next three months to support the transition.

Argo also announces that Sarah Gow has resigned from her position as non-executive director on the board due to health reasons. “It has been a tremendous privilege to serve on the Board of Argo, and I wish the company every success for the future,” said Gow.