According to Blockworks, Yuga Labs co-founder Greg Solano announced on Wednesday that he is resuming his role as CEO. Former Activision Blizzard CEO Daniel Alegre, who took over the position in January of this year, is stepping down. Alegre had replaced Nicole Muniz, who served as CEO for approximately a year. Alegre expressed gratitude for the opportunity to lead the team and connect with community members worldwide, stating that Yuga has a bright future.
Solano, in his announcement, said he is reinvigorated to take the reins for the company's next chapter. He plans to 'unshackle' the Bored Apes Yacht Club (BAYC) team by creating a new company, 'BAYC LLC,' as a Yuga subsidiary responsible for everything BAYC. Solano mentioned that there are still a couple of important roles to be filled on the BAYC team. Additionally, the team will ramp up communications for Otherside, intending for it to become the default space for users to play and hang with their Web3 communities.
Last October, Yuga Labs announced US layoffs as part of a restructuring plan under Alegre. At that time, Solano confirmed that Yuga Labs had over 120 employees following the reduction. The former executive also emphasized the company's focus on Otherside, stating that every ongoing digital connection would be part of and reinforce the Otherside evolution.