Maple Finance co-founder Joe Flanagan and COO Ryan O’Shea are leaving over disagreements about the firm’s direction as SYRUP falls despite revenue growth.

Two senior executives are leaving onchain asset manager Maple Finance over disagreements about the firm’s direction as its SYRUP token slid more than 7% Thursday.

Maple co-founder and executive chairman Joe Flanagan said Wednesday he would leave after seven years at the firm, describing a growing divide with fellow co-founder and CEO Sidney Powell.

“Over time, our views on strategy, leadership, and life have moved further apart,” Flanagan wrote. “I believe Maple is best served by one co-founder leading it forward from here.”

Chief operating officer Ryan O’Shea also said in a Thursday post on X that he would leave after nearly five years at Maple. “I’ll be stepping down as COO. I’ve come to a different view on the direction Maple should take, and I’ve decided it’s time to step aside,” he wrote.

SYRUP traded at $0.12 at 10:36 p.m. UTC Thursday, down 7.5% over 24 hours and 12% over the past week, according to CoinGecko. The token had a market capitalization of about $145 million.

Maple and Powell did not respond to Cointelegraph’s requests for comment by publication.

In a statement published Wednesday, Maple confirmed that Flanagan was stepping down as chairman and leaving the company. “This is an agreed and orderly transition,” the company said, adding that his responsibilities would move to Powell and Maple’s existing leadership team.

The company did not announce a replacement chairman or specify how the departing executives’ duties would be carried out.

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