Eclipse CEO and Founder, Neel Somani, Replaced amid claims of sexual misconduct

Eclipse Labs has released an operation update stating Vijay Chetty, the firm’s Chief Growth Officer, will assume Neel Somani’s CEO responsibilities “effective immediately.”

The announcement briefly mentioned Neel Somani would be departing from the firm and focused on highlighting Chetty’s competence for the new role.

The newly appointed CEO has been heavily involved in the cryptocurrency space, having held leadership roles at Uniswap Labs, dYdX Trading, and even Ripple Labs. Additionally, Chetty is reportedly a renowned investor at BlackRock.

 Chetty has been adequately involved in the growth of the firm. His experience has benefited the firm in building a solid community, partner, and investor base, which are key features of success in Web 3.0.

Operational update on behalf of Eclipse Labs: "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.

— Eclipse 🌑 (@EclipseFND) May 16, 2024

Eclipse Lab’s announcement on X stresses the firm’s commitment to its mission moving forward and expresses full confidence in Chetty’s abilities to spearhead the company as the new CEO.

Eclipse replaces Neel Somani

Amid the sexual misconduct claims, Somani has publicly expressed his decision to step aside and relinquish his role as the public face of the company.

Also Read: Eclipse CEO Neel Somani Temporarily Steps Down

The Founder and CEO notably denied the sexual misconduct allegations. Somani said he has never harassed or assaulted any woman sexually. In response to these sexual harassment claims, Somani expressed his desire to work on the case and clear his name.

Eclipse plans to move forward

According to the firm’s announcement on X, the firm plans to continue diligently with its operations. The prompt announcement of a new CEO, who happens to be an in-house promotion, suggests the company’s desire to continue building and revolutionizing the Web3 space.

Also Read: Eclipse Announces Pioneering Mainnet Launch

Hack VC, a Web 3 venture capital firm with shares in Eclipse Labs, said on X,

“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. He’s a respected and accomplished leader across crypto and traditional finance, and we are grateful that he is stepping into this position.”

The developments demonstrate the firm’s keenness to move forward and allow Neel Somani to address the allegations against him.

 

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Cryptopolitan reporting by Collins J. Okoth.