Bolt CEO Maju Kuruvilla to Step Down

Maju Kuruvilla, the erstwhile CEO of one-click checkout company Bolt, has stepped down from his position, making way for Justin Grooms, Bolt’s global head of sales, who now assumes the role of interim CEO, as per Grooms’ LinkedIn profile. Justin Grooms, with a background in executive roles at companies like Ultraleap, Datron World Communications, and Qualcomm, steps into the CEO role with a wealth of experience.

Kuruvilla, without much elaboration, confirmed the change via LinkedIn and X, posting a succinct message, “One-Click Checkedout from @bolt! Onwards,” accompanied by a rocket emoji. While he declined further comment, Arjun Sethi, a co-founder of the venture firm Tribe Capital, acknowledged his departure and expressed admiration for Kuruvilla’s contributions.

The decision to remove Kuruvilla was reportedly made by the Bolt board over the weekend. Kuruvilla, a former Amazon executive, assumed the CEO position in January 2022 following the departure of founder Ryan Breslow.

Bolt has faced its share of challenges, including controversies surrounding its founder and legal inquiries. Despite significant fundraising efforts and partnerships with notable retailers, the company weathered layoffs and regulatory scrutiny. However, under Kuruvilla’s tenure, efforts were made to steer Bolt towards profitability and enhance its service offerings.

With Grooms at the helm, Bolt aims to chart a new course forward, leveraging its position as a leading one-click checkout provider and forging strategic partnerships to drive growth and innovation in the competitive e-commerce landscape.

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