Cool Cats has found the "right cat" for its CEO job: a former longtime Disney executive with brand-building experience.
The project announced the hiring of Stephen Teglas, mostly recently of web3 company RECUR, at a town hall Wednesday. Teglas spent 25 years at the Walt Disney Company, including a stint as vice president of brand licensing from 2011-14 where he created a brand plan for Mickey and Minnie Mouse. Teglas also worked as a vice president of consumer products at Warner Bros. from 2018-20.
"My focus was always how do we ensure that three years from now, five years from now, 25 years from now, the brand is more relevant, it's more beloved and it's reached a broader and bigger audience over time," said Teglas of his time managing brands.
Teglas said he "fell in love" with Cool Cats when he went to NFT-NYC with his son in June and visited Cooltopia.
"I loved the experience, I loved how immersive and fun it was, but what I liked most is that it was cool," Teglas said. "The community was relatable, it was very it was inclusive and I felt at home."
Anticipation was building for Wednesday's town hall, as the meetings typically take place on Friday afternoons, not Wednesday mornings. The project did more than 1,000 ETH in volume after Cool Cats community members pointed out that co-founder @xtremetom did a rare tweet about the town hall and fellow co-founder Lynqoid called the town hall a "9/10."
The floor price before the town hall was around 2.15 ETH. It is currently 2.85 ETH as of noon ET on Wednesday.
The project has been looking for a new leader ever since the former CEO, Chris Hassett, stepped down in April after only three months on the job. Cool Cats reportedly used a recruiting agency to track down Hassett's successor.
Cool Cats, which once reached a 15 ETH floor price after announcing a companion project (Cool Pets) and a game (Cooltopia), has been steadily falling in price after the game faced several production delays and the native token ($MILK) sank to its current value of $0.00027194.