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Eclipse Labs Replaces Neel Somani As CEO Following Misconduct Allegations

Eclipse Labs Replaces Neel Somani As CEO Following Misconduct Allegations

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Eclipse Labs has replaced Neel Somani following misconduct allegations. Former Chief Growth Officer Vijay Chetty will assume the role of the company’s new CEO. 

Eclipse Labs announced the departure of Somani and the promotion of Chetty to CEO via a social media post on X. 

Eclipse Labs Announces New CEO 

Eclipse Labs stated that Chetty brought a decade of experience in crypto, and held leadership positions at dYdX Trading, Uniswap Labs, and Ripple Labs, and significant investing experience at BlackRock. 

“Effective immediately, Vijay Chetty will be named CEO of Eclipse Labs, taking over for Neel Somani, who is departing. Chetty will be elevated from Chief Growth Officer and will assume all responsibilities of CEO. Chetty brings over a decade of crypto-native experience to the helm, having held leadership positions at Uniswap Labs, dYdX Trading, and Ripple Labs in addition to his investing experience at BlackRock.”

Chetty also announced the news to his followers, stating that he would be stepping into the role of CEO of Eclipse Labs immediately. 

“Effective immediately, I will be stepping into the role of CEO of Eclipse Labs. As Chief Growth Officer, I’ve seen firsthand the promise of Eclipse’s technology and the excitement from our employees, partners, investors and community towards the project.”

The Allegations Against Somani 

Allegations against former CEO Neel Somani emerged last week, following which he announced that he would step back as the company’s public face. Somani took to social media to address the allegations against him, stating he was innocent and would defend his reputation. 

“Serious allegations have been made against me on Twitter in the last week. These allegations are false, but serious allegations about misconduct warrant a serious and thoughtful response.”

At the time, Eclipse Labs had released a statement via social media to address the allegations and highlight its commitment to maintaining gender equality and professional standards. 

“Eclipse remains committed to maintaining the highest personal and professional standards, including gender equality and fair treatment. The team takes allegations against our CEO, Neel Somani, seriously and believes in the importance of truth.”

Meanwhile, HackVC, an investor in Eclipse Labs, posted that they were working with other investors and the Eclipse team to address the situation. They revealed that they had also urged Neel to resign from his position as CEO. 

“Since learning about the allegations, we worked hard with other investors and the team to correct the situation, including urging Neel to resign, and we are pleased to see that happen. We have strong conviction in the rest of the@EclipseFND team and the project’s mission. We fully support @0xLitquidity in his new role as CEO and believe he’s the ideal person to drive the project forward.”

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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