Enterprise blockchain company R3 has reorganized its management team after the departure of two senior executives, Global Head of Services Brian McNulty and General Counsel Lauren Carroll, as first reported by
CoinDesk. Last year Chief Revenue Officer Scott Grayson left the company and has yet to be replaced.
Occasional reallocation of responsibilities is to be expected in a growing startup. The most noteworthy aspect is the departure of General Counsel Lauren Carroll. In September last year
Ripple and R3 settled their litigation over an options contract which potentially entitled R3 to up to $18.3 billion of XRP at peak cryptocurrency valuations. R3 had the right to buy 5 billion XRPs at $0.0085 at any point until September 2019. The current price is $0.2972. Hypothetically, just 10% of the five billion XRP would be worth $144.35 million to R3 today.
In June 2017 Ripple unilaterally canceled the option after claiming R3 failed to fulfill a separate contract which required R3 to promote Ripple to its partners. R3 sued Ripple.
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