The progenitor and past CEO of the widely known crypto firm, Crypto Facilities, Timo Schlaefer, has officially stepped down as director of the firm. However, Schlaefer will still play an advisory role in the business’s executive board. He officially resigned from office on the 12th of February, 2021, handing over reins of power to Gary Worrall, its former head of operations.

Kraken’s Subsidiary: Crypto Facilities

Timo Schlaefer founded Crypto Facilities, and it started operations fully in 2015. Crypto Facilities was made a subsidiary of Kraken, the largest firm in Europe that is based on cryptocurrency functions, in 2019. It has always been a professional trading firm specialized in derivatives of digital assets. Crypto Facilities has its headquarters in London, United Kingdom.

For the records, Gary Worrall joined the firm in 2018, taking up the role of the firm’s operational head. He had previously worked at Smarkets, a sports betting firm, for almost five years, where he successfully served as a business analyst. Before working at Smarkets, he had worked with Horatio Investments on a short-term contract as a researcher. He had also been a marketing assistant at Datasort Accountancy in 2009.

Schlaefer announced that he is resolute in his decision to step back from being the CEO’s everyday activities. He also assured Worrall of his unflinching support, and he will be playing an advisory role to the firm’s executive board.

Meanwhile, Curtis T, Managing Director of Kraken Europe, said that Gary had the ability and capacity to run the firm to meet the standards of various institutional investors. He will help in lifting the banners of the business higher in the world rankings. He added that Schlaefer had been a real stakeholder in the crypto society. He is also responsible for the firm’s energized surge, which made it claim its undisputable seat among the world-leading crypto derivatives firms.

Worrall, in his words, said that he was glad to be appointed as the new CEO at a point where the firm is experiencing massive gains on all sides. He also added that the firm’s possession of the MTF license would allow room for advancement in the firm’s customer satisfaction techniques.