SAN FRANCISCO (Diya TV) — Baiju Bhatt, co-founder, and Chief Creative Officer (CCO) of Robinhood Markets, has announced his departure from the executive position after over a decade of leadership. While relinquishing his role as CCO, Bhatt will retain his position as a member of Robinhood’s Board of Directors.

Vlad Tenev, CEO, and fellow co-founder of Robinhood, acknowledged Bhatt’s pivotal role in shaping the company’s trajectory. Bhatt’s departure comes amidst a series of strategic shifts for Robinhood.

Bhatt’s decision follows a year at Robinhood marked by a workforce reduction and strategic acquisitions. In June 2023, the company undertook a workforce reduction of approximately 150 full-time employees, constituting 7% of its total workforce. Concurrently, Robinhood finalized the acquisition of San Francisco-based credit card platform X1 for $95 million, signaling a strategic pivot in its business model.

Despite stepping down from the CCO position, Bhatt retains an 8% ownership stake in Robinhood. 

Robinhood is headquartered in Menlo Park, California and operates across three divisions: Robinhood Financial, Robinhood Crypto, and Robinhood Money. The platform gained prominence during the pandemic-driven surge in online trading, particularly during the meme stock craze of 2021.