Aspiration, a FootPrint Coalition portfolio company offering carbon offsets and sustainable investing solutions for businesses and consumers, has a new chief executive officer.
Olivia Albrecht, who previously led Aspiration's carbon offsets and marketplace business, will take over as the new chief executive.
Albrecht succeeds Andrei Cherny, Aspiration's co-founder who led the company from its inception nine years ago into the multi-million dollar business it is today.
Cherny will stay on as a director on the Aspiration board and help guide the company through the leadership transition.
With the appointment, Aspiration will be pushing forward with its carbon marketplace and offset business to allow consumers and businesses to make climate action core to their everyday lives and operations, the company said in a statement.
Albrecht intends to focus on the company's carbon marketplace, project financing, and carbon trading operations, according to a statement.
“As the world accelerates toward large-scale decarbonization, the carbon credit markets will play an increasingly important role in corporate strategy, capital allocation, and consumer engagement,” said Brian Laibow, Managing Director and Co-Head of North America for the Global Opportunities strategy at Oaktree Capital Management, L.P -- and a big investor in Aspiration.
“We are thrilled with Olivia’s leadership, building Aspiration’s market-leading position to capitalize on megatrends generated by the transition to climate neutrality,” Laibow said in a statement.
Aspiration's new focus on carbon markets reflects how quickly businesses have moved to embrace its solutions. In fact, driven by the rapid growth of Aspiration’s Enterprise business, which Albrecht led, is on track to deliver well north of 200% YoY revenue growth beating projections.
“We thank Andrei for his tireless dedication building Aspiration from initial insight to a significant and rapidly growing company,” said Nate Redmond, Chair of the Aspiration Board of Directors. “Olivia is precisely the right leader to realize Aspiration’s compelling vision of the future of carbon. Markets will reward pioneers that build comprehensive solutions for a net zero world. Andrei built a talented team at Aspiration that will continue, under Olivia’s leadership, to achieve the development of innovative products that are unlocking this rapidly emerging category of climate solutions."