Cryptocurrency mining company Argo Blockchain plc (LON:ARB) has appointed Thomas Chippas as CEO and Director with immediate effect.
Thomas Chippas, most recently CEO of CBOE Digital and a former member of its Board of Directors, is a New York-based executive with significant experience in digital assets, technology and financial services.
In the past he has held the positions of CEO of Citadel Technology LLC, Chief Operating Officer of Axoni and CEO of Citigroup, Barclays and Deutsche Bank.
He also serves as director of TS Imagine.
Thomas Tsippas said, “I am honored and excited to join Argo. The pace of innovation in the Bitcoin mining industry continues to increase as miners seek ever greater efficiency and ability to prepare for the Bitcoin halving and beyond. Together with the Argo team, I look forward to pursuing the opportunities that exist.”
In connection with the appointment, the Company has granted 2,850,000 performance share units related to the Company’s American depositary shares (“PSUs”) to Thomas Chippas. The PSUs vest over a three-year period, with the first vesting occurring twelve months from the date of grant (then up to one-third vesting), the second vesting occurring 24 months from the date of grant (then up to another third vesting), and the third vesting that takes place 36 months from the date of grant (so until the last third vesting), subject to the continued employment of Mr. Tsippas and the satisfaction of the performance conditions.
If the performance conditions are not met on certain vesting dates, but are met thereafter, the relevant fraction of the PSUs will vest.
The Company’s Board of Directors intends to grant further PSUs to Mr. Tsippas on the first and second anniversaries of his appointment, subject to the limitations imposed by Argo’s stockholder-approved compensation policy and its authority to grant and issue new titles.