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According to a report from Crypto界 News, Sonic Labs announced a leadership reorganization. Former Chief Technology Officer Andre Cronje, former CEO of the Fantom Foundation Michael Kong, and Executive Chairman David Richardson have stepped down from their board positions. The reorganization is being carried out amid continued declines in the S token; over the past 24 hours, the S token has fallen by about 5% and is currently trading at close to $0.029. Sonic Labs said that the management changes are related to a new governance framework, aiming to improve accountability and communication transparency. The newly appointed CEO, Matt Visser, and Chief Operating Officer, Kosta Kourkoumelis, will be responsible for the company’s future operations.