Kathleen Allman has filed suit to remove Ian De Bode as CEO of Ondo Finance, claiming controlling voting power through the estate of her late son, founder Nathan Allman.
Allman seeks to install herself as interim CEO and board chair of the tokenized real-world asset issuer—a move that directly challenges the company's current leadership structure.
The control fight follows Nathan Allman's death at age 32 earlier this year. Ondo Finance appointed De Bode, who had served as the company's president, as CEO after the founder died. De Bode joined Ondo as chief strategy officer in March 2024.
Kathleen Allman's claim centers on the voting power held by her son's estate, which she argues gives her authority over corporate decisions, including the composition of the board and executive leadership.
Ondo Finance said its mission remained unchanged with De Bode's transition to CEO.
A court will assess corporate bylaws and estate provisions to resolve the dispute. The outcome will shape the company's leadership structure and strategic direction.
Ondo Finance focuses on tokenized real-world assets. Its native ONDO token facilitates various protocol functions within the ecosystem.
