FRESNO - Technology company Bitwise Industries today announced several company updates. After initiating a furlough of its employees and suspending operations effective May 30, 2023, the company has terminated co-CEOs Jake Soberal and Irma L. Olguin Jr. Additionally, the Board of Directors has appointed Ollen Douglass interim President, effective June 1, 2023.
The Board of Directors has begun investigating what led to these current circumstances and events and is engaging independent experts for support. As Interim President, Douglass will oversee the investigation, drawing on his background in auditing and experience as a former chief financial officer.