John Jay Ray III, who led disgraced energy titan Enron through rocky bankruptcy proceedings and a slew of settlements in the early-mid 2000s, has taken over as CEO at beleaguered crypto exchange FTX.
Now-former CEO Samuel Bankman-Fried, who led FTX to its major international crypto presence, resigned the same day as the company’s bankruptcy filing, Friday morning.
Ray has garnered a reputation for having something of a Midas touch with troubled companies. Previously, the turnaround titan served as a chief restructuring officer and plan administrator in high-profile bankruptcy cases involving prominent companies Overseas Shipholding Group and Nortel Networks.
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