Ripple Labs appoints former Yahoo Exec as COO

Brad Garlinghouse, former Yahoo and AOL executive, has been appointed as the new COO by Ripple Labs.

"There is already incredible momentum for Ripple as a new infrastructure for global payments, and the opportunity to define the actual framework for the Internet of Value is an order of magnitude bigger than anything else underway in payments today", he said in a press statement.

The news comes weeks after Anja Manuel, former US State Department official, was hired by the company to work as an advisor. Also, Gene Sperling, former National Economic Council director, joined the Ripple Labs' board of directors earlier this year.

Garlinghouse came into the limelight in 2006 following the leak of an internal Yahoo memo penned by him, which was later published. Called the 'peanut butter manifesto', he condemned the company for its lack of focus and called for several changes, including staff cuts.