Klarna’s Boardroom Turmoil: Another Director Set to Exit
Klarna, the Stockholm-based fintech giant racing toward a highly anticipated IPO, is undergoing yet another boardroom upheaval. The buy-now-pay-later pioneer is reportedly preparing to remove long-time investor Mikael Walther from its eight-member board—marking the latest chapter in a year of internal power struggles.
Key Developments:
- Investor Ousting: According to the Financial Times, seven directors voted to remove Walther, a close ally of Klarna co-founder Victor Jacobsson.
- Founder Dynamics: Jacobsson, who left Klarna in 2012 but remains a major shareholder, has reportedly clashed with CEO Sebastian Siemiatkowski, the company’s leader for nearly two decades.
A Year of Boardroom Drama
This marks Klarna’s second major board shakeup in 2024. Earlier this year, tensions flared when Sequoia Capital’s Matt Miller allegedly pushed to remove Michael Moritz—Klarna’s first investor and current board chair—just weeks after joining the board. The conflict escalated into a public feud before Sequoia apologized and replaced Miller with partner Andrew Reed.
Why This Matters
- IPO Preparations: The leadership instability raises questions about governance as Klarna eyes a U.S. public listing.
- Investor Relations: The repeated board conflicts highlight challenges in balancing legacy stakeholders with new strategic voices.
Klarna’s ability to stabilize its leadership could prove critical as it navigates its next phase of growth. Industry watchers will be closely monitoring how these changes impact its IPO ambitions and long-term strategy.
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