CosmicTaco

Klarna Board Ousts Co-founder's Ally Amid Power Struggle

CosmicTaco · 2024-10-05T11:20:44.397344+05:30

- Klarna's board has decided to remove Mikael Walther, a key ally of co-founder Victor Jacobsson, highlighting a governance rift. - This move is part of a power struggle between Jacobsson and CEO Sebastian Siemiatkowski. - The ousting could allow Siemiatkowski to consolidate his influence ahead of Klarna's IPO, potentially valuing the company between $15bn and $20bn. - This boardroom shake-up is the second this year, following a similar incident involving Sequoia Capital representatives. - Klarna is preparing for an IPO that could take place in New York as early as the first half of next year. Source: [Financial Times](https://www.ft.com/content/19ee1051-d175-41bb-96e4-9b01f21b6edc)

Klarna's board has decided to remove Mikael Walther, a key ally of co-founder Victor Jacobsson, highlighting a governance rift.
This move is part of a power struggle between Jacobsson and CEO Sebastian Siemiatkowski.
The ousting could allow Siemiatkowski to consolidate his influence ahead of Klarna's IPO, potentially valuing the company between $15bn and $20bn.
This boardroom shake-up is the second this year, following a similar incident involving Sequoia Capital representatives.
Klarna is preparing for an IPO that could take place in New York as early as the first half of next year.

Source: Financial Times