Ripple Reportedly Searching for a New Chief Financial Officer (CFO)

Fox Business journalist Eleanor Terrett says Ripple is searching for a new CFO following the departure of Kristina Campbell.

In a recent tweet shared by Fox Business journalist Eleanor Terrett, Ripple Labs has commenced the search for a new Chief Financial Officer (CFO).

?NEW: @Ripple confirms it has launched the search for a new CFO.

Their statement ?? https://t.co/BNbWqZe0PS pic.twitter.com/TmU4weewBV

— Eleanor Terrett (@EleanorTerrett) October 9, 2023

Kristina Campbell Exits Ripple

The move follows the departure of Kristina Campbell, who held the position for over two years. Yesterday, Campbell disclosed that she had left the leading blockchain payments company for a similar position at Maven Clinic, a virtual healthcare provider.

Campbell, who was CFO at PayNearMe for over four years, joined Ripple Labs in April 2021, undertaking a similar role. After more than two years, she left Ripple for Maven Clinic without explaining the rationale behind the move.

Campbell said in a statement on Linkedin that she is going to join Maven Clinic as CFO.

She expressed gratitude to both the Ripple and Maven Clinic teams while looking forward to continuing her career in the health sector.

Ripple Confirms Campbell’s Departure

Furthermore, a spokesperson at Ripple Labs commented on the development in an email, saying:

“We’re grateful for Kristina’s leadership over the past 2+ years and her contributions to the company as we’ve experienced strong global momentum, business growth, and navigated regulatory headwinds.”

Ripple emphasized that it still has a solid financial standing, adding that it is “laser-focused” on its continued successes in key markets globally.

Following Campbell’s departure from Ripple, the company is already making plans to recruit a new CFO. It is unclear whether Ripple already has some preferred candidates that could fill the position.

Ongoing SEC v. Ripple Lawsuit

Meanwhile, Campbell’s departure comes as Ripple continues to engage the SEC in an intense legal battle. The lawsuit, which the SEC introduced in December 2020, has lasted nearly three years.

On July 13, a New York federal court issued the summary judgment, declaring XRP as a non-security while finding that most of Ripple’s XRP transactions do not constitute investment contracts. A part of the lawsuit, the case against Ripple execs, is scheduled for a trial starting April 23, 2024.

At press time, it is unknown whether Campbell’s departure from Ripple relates to the ongoing SEC lawsuit. Meanwhile, Ripple CEO Brad Garlinghouse asserted last month that 80% of the company’s hiring will take place outside the United States, where there is regulatory clarity.