Yuga Labs Names Michael Figge CEO, Shifts Greg Solano to Chairman

Yuga Labs, the creator of Bored Ape Yacht Club, has replaced its chief executive officer as part of a management overhaul.

The Block reported on March 16 that Yuga Labs Chief Executive Officer Greg Solano will hand the role to Michael Figge and become chairman of the board. Figge had already been serving in the CEO role for several weeks, the report said.

Solano called Figge the right person to lead the company into its next phase, citing his relentless focus on product quality and long-term vision. He added that Figge's performance over the past year on the metaverse project Otherside demonstrates that.

The reshuffle comes as Yuga Labs continues developing Otherside, a large-scale multiplayer metaverse platform designed to let users directly own and interact with assets and virtual worlds.

Figge joined Yuga Labs in 2021 and most recently served as chief product officer. He said the company is building a new social platform through Otherside that combines digital assets and community, and that he will focus on expanding the user base and growing the ecosystem.

Solano plans to turn his attention to creative direction and content planning. He said writing and developing ideas are his strengths, and that Figge's appointment will allow him to focus more fully on that role.

Yuga Labs has kept its management structure in place since co-founder Solano became CEO in February 2024. The latest change appears aimed at accelerating its product-led growth strategy.