According to Foresight News, Michael Arrington, the founder of Arrington Capital, announced on Twitter that he will no longer serve as a board member of the new company formed by Celsius. Ravi Kaza, an investor and advisor at Arrington Capital, will take over the position. This comes just 13 days after Arrington agreed to join the board of the Delaware-based company established by Celsius. He stated that his departure is due to disagreements over some decisions made regarding the board's bylaws, particularly the decision on board observers.