Celsius creditor committee called for CEO’s removal

The committee representing customers and creditors in the Celsius bankruptcy process says it called for the removal of CEO Alex Mashinsky, according to a new court filing.

The Committee of Unsecured Creditors was conducting its own investigation into the firm and its leadership. Those findings led it to demand that Mashinsky be removed as CEO and Celsius leadership begin an orderly transition.

After receiving information from Celsius’ leadership as part of its investigation, the committee concluded that allowing Mashinsky to stay as CEO was «unacceptable and not in the best interests of the estates,» and added that, «new executive leadership was required,» the group’s lawyers wrote in a court filing today. 

Mashinsky announced his resignation this morning, a move that the committee characterized as «a positive step» to allow the bankruptcy process to move forward. 

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