Earlier today, we informed the Spaceship team of some important changes to our business. We've made the difficult decision to reduce the size of the team, and as such, four members of the Spaceship team are expected to leave the organisation this week.
We made this decision to accelerate our path to self sustainability and ensure we are well positioned to navigate the challenges of the current macro environment. While these changes serve to help Spaceship reduce its operating costs, our strategy and core business remain unchanged, and there will be no impact to the products we offer customers.
CEO Andrew Moore said: "This is not a decision we imagined would be ahead of us when making hiring decisions. We are deeply grateful for everything these team members have done to help build Spaceship, and this is in no way a reflection on their contributions. We will be making every effort to provide those impacted with the appropriate support."
Spaceship has also made some changes to its leadership.
Katrina Sly, Spaceship's Chief Financial Officer, is assuming a wider operational remit in the newly-created joint role of Chief Operating Officer / Chief Financial Officer. Katrina has been with the business since April 2021 and has extensive experience in senior financial executive roles at Fidelity International and State Street Global Advisors across Asia, the US and the UK.
Tom Kildea, who has been a senior member of Spaceship’s risk and compliance and operations teams for more than five years, is appointed as Chief Risk Officer.
In addition, Jason Sedawie, our senior portfolio manager, will assume a wider leadership role within Spaceship in a newly-created position of VP of Investments.
Today has been a difficult day, but we are confident we will successfully navigate these changes, and we remain committed as ever to our mission and customers.
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