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Evernorth Holdings Inc. said on May 5, 2026 that it is expanding its leadership team with new board members and senior executives as it moves toward a planned public listing through Armada Acquisition Corp. II. The appointments come as Evernorth builds a public-company strategy aimed at enabling institutional adoption of XRP.
Evernorth said Stuart Alderoty, Ripple’s chief legal officer, is expected to join its board after the business combination closes. Alderoty has served as Ripple’s chief legal officer since 2019 and has served as president of the National Cryptocurrency Association since 2025. His earlier experience includes legal roles at CIT Group Inc., HSBC North America Holdings Inc., and American Express Company.
Evernorth CEO Asheesh Birla said: “As Evernorth prepares to operate as a public company, we are building a leadership team with the institutional credibility this model requires.”
The company also identified additional expected board members and executive hires. Dr. Derar Islim is expected to bring experience in digital asset market structure and institutional credit from roles at Antalpha and Genesis Global Trading. Ted Janus is expected to add more than 30 years of investment experience, including work at J Capital and Palo Alto Investors. Robert Kaiden is expected to bring financial leadership experience, including Chief Financial Officer of the OpenAI Foundation and former Chief Accounting Officer of Twitter.
On the executive side, Evernorth appointed Boris Kapeller as Chief Risk Officer and Charles Stewart as Chief Communications Officer.
Evernorth said the leadership changes are intended to support its transition into a potential public digital asset treasury. After completing its combination with Armada II, a Nasdaq-listed SPAC, Evernorth intends to offer investors exposure to XRP through a regulated, liquid, and transparent structure.
The company said it plans to pursue an approach different from exchange-traded funds (ETFs). Rather than mirroring ETF structures, Evernorth intends to actively grow XRP per share through institutional and DeFi yield strategies, ecosystem participation, and capital markets activities.
Kapeller will oversee financial risk strategy and controls, while Stewart will lead communications, marketing, and brand strategy.
Evernorth also referenced its progress on an XRP treasury strategy toward a Nasdaq listing, describing the plan in an S-4 filing with the U.S. Securities and Exchange Commission.
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