Evernorth Adds Ripple CLO to Board Before Nasdaq Debut

TLDR

• Evernorth appointed four new directors as it advances its planned Nasdaq listing in the United States.
• Stuart Alderoty, Ripple’s Chief Legal Officer, joined the board to strengthen regulatory oversight.
• Robert Kaiden, CFO of the OpenAI Foundation, will support financial reporting and transparency.
• Ted Janus brings over three decades of institutional investing experience to guide treasury management.
• Derar Islim adds operational expertise from his leadership roles at Genesis Global Trading.

Evernorth advanced its U.S. listing plans after appointing four directors to its board. The company confirmed the additions as it progresses toward a Nasdaq listing. It also expanded its executive team and advanced its SEC registration process.

Evernorth Expands Board Ahead of Nasdaq

Evernorth confirmed it will appoint four directors after completing its merger with Armada Acquisition Corp. II. The company stated that the move supports its planned Nasdaq listing. It said the board expansion strengthens governance and operational oversight.

Stuart Alderoty, Chief Legal Officer at Ripple, will join the board. He previously held senior legal roles at CIT and HSBC North America. Evernorth said his regulatory experience will guide compliance efforts.

Robert Kaiden, Chief Financial Officer of the OpenAI Foundation, will also join the board. He earlier served as Twitter’s Chief Accounting Officer and worked as an audit partner at Deloitte. Evernorth said he will reinforce financial reporting and transparency.

Ted Janus, principal at J Capital, brings more than 30 years of institutional investment experience. Evernorth said he will support disciplined capital allocation and treasury oversight. The company added that his background aligns with its long-term strategy.

Derar Islim, former COO and interim CEO of Genesis Global Trading, completes the appointments. Evernorth said he adds operational insight from crypto market cycles and restructuring processes. The board will serve alongside Chief Executive Officer Asheesh Birla.

XRP Treasury Firm Files S-4 and Expands Executive Team

Evernorth filed an S-4 registration statement with the U.S. Securities and Exchange Commission. The company also submitted an amended filing as part of the review process. It confirmed that regulators continue to examine the registration.

The company raised more than $1 billion from strategic investors, including Ripple and SBI Holdings. Evernorth disclosed that it holds over 473 million XRP in its latest SEC filing. It described itself as the largest XRP treasury holder.

Ripple Chairman Chris Larsen backed the fundraising round. Several Ripple executives serve as strategic advisors to Evernorth. These advisors include Brad Garlinghouse, David Schwartz, and Stuart Alderoty.

Evernorth also appointed Boris Kapeller as Chief Risk Officer. The company named Charles Stewart as Chief Communications Officer. It said these hires strengthen risk management and corporate communication.

Evernorth stated, “We are building a board that reflects financial, legal, and digital asset expertise.” The company said it will complete the business combination before finalizing board appointments. It confirmed that the Nasdaq listing remains subject to regulatory approval.

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