TechFlow reported, according to The Block, that Anthony Foy, co-founder and CEO of Qredo, has been ousted from the company following an investor-led management overhaul. Qredo has secured debt financing to sustain its operations.
The move was part of a restructuring led by 10T Holdings, a major Series A investor in Qredo. Dan Tapiero's 10T Holdings, as a significant shareholder with board representation, had the authority to demand a leadership change at the company.
Foy, 64, has now been replaced by Duncan Payne-Shelley, Qredo's 48-year-old CFO. Payne-Shelley’s LinkedIn profile has already been updated to reflect his new role as both CEO and CFO of Qredo.
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