BitPay announced on January 31, 2017, that Carl Stern had joined its board of directors1. Stern had spent six years as chief executive and eight years as chairman of the Boston Consulting Group, and the release said he had been "shaping strategic business thinking for more than 40 years". At the time of the announcement, Stern chaired his own advisory firm, Carl W. Stern Associates.
Two leadership moves at BitPay on the record since 2017
Every move CryptoLately has verified there, by the day it became public
Moves: The Moves Ledger, CryptoLately's record of verified leadership moves, Oct. 3, 2016 to Oct. 2, 2026.
Read the chart as a table
| Date | Event |
|---|---|
| Jan. 31, 2017 | Stern joined the board. Carl Stern joined the board of BitPay |
| Dec. 1, 2020 | Solanki became CFO. Jagruti Solanki was named Chief Financial Officer of BitPay |
One board appointment on the record in 2017
Board appointments CryptoLately has verified, by year
- 2017: 1
- 2018, 2019, 2020, 2021, 2022, 2023, 2024
Moves: The Moves Ledger, CryptoLately's record of verified leadership moves, Oct. 3, 2016 to Oct. 2, 2026.
Read the chart as a table
| Item | Value |
|---|---|
| 2017 | 1 |
| 2018 | 3 |
| 2019 | 3 |
| 2020 | 10 |
| 2021 | 10 |
| 2022 | 4 |
| 2023 | 4 |
| 2024 | 6 |
The move
Growth plans framed the appointment from the start. Stern joined "as the company prepares for accelerated growth in 2017," the release said, and would help guide BitPay's board on investment, hiring and business partnerships1. Stephen Pair, BitPay's chief executive, welcomed the addition. “Given Carl's expertise and experience, we look forward to his contributions as a member of our board of directors,” Pair said, adding that Stern's “perspective and insight will add great value in helping to guide BitPay in the years ahead”. Stern answered with his own assessment of the company. “I'm excited to see how BitPay's technology is making transactions more secure and efficient around the world,” Stern said. “I'm proud to be joining the company's board as it continues to lead the way in changing how online payments work”.
BitPay before and after
Crypto trade press picked up the news within a day. CryptoNinjas reported on February 1, 2017, that “Bitcoin payment solutions provider BitPay has officially announced that Carl Stern has been elected to BitPay's Board of Directors,” reproducing the release's account of his six years as the Boston Consulting Group's chief executive and eight as its chairman2. Both reports left the rest of the board's roster out, and both skipped the question of which seat Stern filled.
What the record shows
BitPay's release and CryptoNinjas's report, dated January 31 and February 1, 2017, both tie Stern's arrival to BitPay's growth plans for that year12. A Google News search on October 3, 2026, looked for a later page on Stern's time on BitPay's board. That search returned only CryptoNinjas's February 1, 2017 report.
Sources
- "Carl Stern Joins BitPay," Business Wire via Financial IT, January 31, 2017, https://financialit.net/news/people-moves/carl-stern-joins-bitpay
- "Carl Stern joins BitPay's Board of Directors," CryptoNinjas, February 1, 2017, https://www.cryptoninjas.net/2017/02/01/carl-stern-joins-bitpays-board-of-directors/