The DigitalX (ASX:DCC) share price is soaring 14% today. Here’s why

The company’s shares are on the move following a key appointment

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The DigitalX Ltd (ASX: DCC) share price is surging higher on Friday. This comes after the blockchain and asset management services company announced a senior leadership appointment.

At the time of writing, DigitalX shares are fetching 11 cents, up 14.13%. It’s worth noting its shares are now around 24% higher than this time last week.

What did DigitalX announce?

Investors are pushing up the DigitalX share price following the company’s positive update.

According to Thursday’s release, DigitalX has appointed highly experienced finance industry executive Lisa Wade as its new CEO.

This follows an extensive search process after the resignation of Leigh Travers in late July. His departure came into effect during September after giving a two months’ notice period.

Incoming CEO Wade brings a wealth of knowledge to the role, having served for more than 30 years in the finance industry.

With a strong background in blockchain project development, Wade recently led the Project Atom Central Bank Digital Currency project (CBDC). This is a collaborative research project between the Reserve Bank of Australia, Commonwealth Bank of Australia (ASX: CBA) and Perpetual, and Project Carbon. The latter is a global strategic alliance tokenising voluntary carbon credits with Latu, CIBC, Natwest, and National Australia Bank Ltd (ASX: NAB).

Previously, Wade held various titles including director at Citigroup where she specialised in arbitrage and derivatives.

Most recently, however, Wade took on the position of head of digital innovation and sustainability at NAB.

She is also a non-executive director of Blockchain Australia, the peak blockchain industry body in Australia.

DigitalX stated that Wade is expected to fulfil the new CEO role as soon as her notice period is expired from her existing job. No exact date was given in the release.

DigitalX share price summary

So far this year, the DigitalX share price has gained around 13%.

Based on today’s price, DigitalX commands a market capitalisation of about $77.96 million and has approximately 742.44 million shares outstanding.

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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