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One of Ethereum Classic Cooperative’s (ECC) board members, James Wo, has quit a position he has held on the board since 2018. His resignation is effective from Tuesday, March 17, 2020.
Mr Wo blamed gross mismanagement on the executive director, Bob Summerwill’s part for his decision. He suggested that Mr Summerwill lacks the necessary integrity and judgement to build the organization. Further, Mr Wo portrayed Mr Summerwill’s regime as incompetent, chaotic and bereft of financial ethics.
Pursuing Personal Interests
Mr Wo pointed to Mr Summerwill’s lack of transparency regarding the budget, operations, and programs. Moreover, he asserted that the executive director had hired his fiancé as the accountant, raising serious questions.
Again, he contended that Mr Summerwill has been pursuing personal interests at the organization’s expense. Summerwill, he opined, has always charged the organisation travel expenses that seemed more personal than work-related. The director has furthermore failed to meet the ECC’s minimum funding goals.
Mr Wo said that he took pride in helping incubate and support an organization committed to building the ECC. He alleged that his company, through grants, early-stage investments, direct funding, and donations, contributed substantial financial support for the community.
Even as he emphasized that his firm will cease funding the ECC in 2019-2020, he will nevertheless not wholly detach himself from Ethereum Classic. He affirmed that they would continue their collaboration with other partners like Chainsafe, Gitcoin and Chainlink, among others, to strengthen the ECC.