The Ethereum Foundation (EF) has announced an update to its governance and oversight structure aimed at enhancing the strategy, transparency, and sustainability of the Ethereum ecosystem.

The new management team is recently led by two co-executive directors — Siao-Wei Wang and Tomas Stanczak. The position of president Ai Miyaguchi has also been retained as key, and Ethereum founder Vitalik Buterin will continue to provide technical and intellectual guidance as part of the board of directors.

Additionally, EF has appointed Bastian Aue and Josh Stark as co-leads for the organizational strategy, hiring and training, and project execution, communication, and marketing respectively.

In a statement, the organization noted that this reorganization reflects a new phase in the development of the Ethereum Foundation. According to EF representatives, the new structure "will help align vision, strategic execution, technical direction, and ecosystem development".

$ETH $BTC