Smarter Web Company loses Bitcoin strategy chief Jesse Myers, no successor named

Smarter Web Company, which holds 2712 BTC, announced that Jesse Myers, Head of Bitcoin Strategy, will leave on September 1. The company stated that its Bitcoin Treasury Policy remains unchanged under board oversight. The notice did not provide a reason for Myers' departure, name a successor, or detail how his responsibilities will be reassigned. Myers was part of the senior executive team responsible for the company's day-to-day management, including implementing the treasury strategy and managing data analytics. The board retains overall authority for management and strategy, regularly reviewing the Bitcoin Treasury Policy and monitoring market value relative to Bitcoin holdings. Smarter Web's August 3 treasury update reported net Bitcoin purchases of 224.8 million GBP and an average purchase price of 82886 GBP per coin. The company also has 18.5 million GBP drawn under a Coinbase credit facility, representing about 17% leverage, with a 6% variable interest rate. Smarter Web does not self-custody its Bitcoin, using institutional providers instead. On July 23, the company sold 177.8909127 BTC to repay 11.7 million USD under a financing instrument, eliminating 7718551 potential shares. Following the departure notice, Smarter Web shares fell 5.8% to 33.20 pence, though the cause of the decline is unclear. The next key question is whether a successor will be named or how Myers' duties will be divided.