Bolt appoints interim CEO as Maju Kuruvilla departs
San Francisco-based fintech Bolt has appointed the company’s global head of sales, Justin Grooms, as its interim CEO, with current CEO Maju Kuruvilla departing the firm after more than two years in the role.
Bolt CEO Maju Kuruvilla departs
Kuruvilla first assumed the position in January 2022 when Ryan Breslow – who founded Bolt in 2015 – transitioned to the role of chairman. Prior to his promotion, Kuruvilla was serving as COO at the company, and he has also previously held leadership positions at Amazon and actuarial and consulting firm Milliman.
According to a report by The Information, the fintech’s board voted to remove him last weekend. However, the report also says that the split was amicable among both parties.
Kuruvilla himself has remained tight-lipped about the move, posting only on LinkedIn and X this week that he has “one-click checkedout from Bolt”.
At the end of February, Kuruvilla wrote a company blog post highlighting Bolt’s progress over the last two years, including the uptake of its e-commerce checkout solution among “several publicly traded, multi-billion dollar brands” and the growth of its API-based shopper network from 10 million to over 80 million, all achieved throughout his two-year tenure.
When contacted by FinTech Futures, a Bolt spokesperson says the firm is “confident that we have the right leadership team in place to help guide Bolt’s next phase” and that it remains focused on “looking ahead and continuing to develop innovative solutions for the e-commerce industry”.
