Ahmad Shadid’s Departure as io.net CEO Is Not Because of Previous Allegations

Ahmad Shadid, the founder of the decentralized physical infrastructure network (DePIN) protocol io.net, has announced that he is stepping down as CEO “effective immediately.”

He said that despite the allegations against him in the past, his resignation as CEO is to allow io.net to move forward without interference.

COO Tory Green Takes Over

“Today I am stepping down as the CEO of http://io.net, effective immediately.” Shadid posted to X on June 9.

He added that the current Chief Operating Officer, Tory Green, will assume the role of CEO, stating, “While there have been allegations regarding my past, I want to emphasize that I am stepping down as CEO to allow io.net to move forward without distraction and to focus on its growth and success.”

$IO Nation, Today I am stepping down as the CEO of https://t.co/pI9FcfdM87, effective immediately. https://t.co/pI9FcfdM87 has grown to be one of the fastest growing decentralized AI companies in the world. After careful consideration, I have decided that it is in the best…

— SHADID | $IO (@shadid_io) June 9, 2024

Shadid also revealed his intention to donate one million of io.net’s soon-to-be-released tokens from his personal holdings to the Internet of GPUs Foundation to “help grow the ecosystem.”

In a separate post on X, Tory Green responded to Shadid’s announcement, noting that under Ahmad’s leadership, io.net has evolved into one of the fastest-growing AI companies globally. Green emphasized that moving forward, the company will continue to pursue Ahmad’s vision of becoming the world’s largest AI compute network and making AI accessible worldwide.

I am honored to step into the role of CEO for https://t.co/OigQQimgcD, effective immediately.

Under @shadid_io ‘s leadership, https://t.co/OigQQimgcD has grown into one of the fastest growing AI companies in the world.

Going forward, we will continue to execute on the vision… https://t.co/12vRHJTMRG

— tory.io Read More