Bakkt board member David Clifton steps down after years of service

Bakkt Holdings, Inc. (NYSE: BKKT) announced that David Clifton, an ICE executive and founding board member, has stepped down from the company's board of directors. Clifton had served on the board since the company's inception and previously acted as interim CEO in 2020 before Bakkt's initial public offering.

Under the terms of Bakkt's IPO, Intercontinental Exchange (NYSE: ICE) retained the right to designate one board member for two years following the public offering. ICE selected Clifton for this position, though he continued serving for an additional two years beyond the required term.

"ICE's support for Bakkt has never been stronger. Under Akshay Naheta's leadership and with Bakkt's proven regulatory and technological foundation, we believe Bakkt is well-positioned for long-term success," said Jeff Sprecher, founder, chair and CEO of ICE.

ICE remains a major shareholder in Bakkt while the digital asset company operates with an independent board structure. Akshay Naheta, Bakkt's CEO, stated the company is approaching completion of its transformation this year and preparing for its next growth phase starting in 2026.

Bakkt, founded in 2018, provides digital asset infrastructure solutions including Bitcoin services, tokenization, stablecoin payments, and AI-driven finance for institutional clients. The company is headquartered in New York.

The board transition reflects Bakkt's evolution as a public company with independent governance structures, according to statements from both companies provided in the press release.

You May Also Be Interested In

• Londian Wason New Energy Tech opens at $26, above IPO price of $22
• Angi launches as a connected app in Google's Gemini platform
• Viant Technology adds Craig Abrahams to its board of directors