Klarna

Buy now, pay later company Klarna was founded nearly twenty years ago by Victor Jacobsson and Sebastian Siemiatkowski. A decade ago, that partnership presumably ended when Jacobsson left the company. According to the Financial Times, he has been a “thorn in the side of Siemiatkowski ever since.”

Now one of Jacobsson’s key allies, Mikael Walther, has been removed from the board by a shareholder vote of over 87%. In a statement, Walther had this to say: “A majority of those present at the general meeting have decided that I shall leave the board. As a result, there will be one fewer independent voice in the boardroom.”

Independent voices or not, this has apparently cemented CEO Siemiatkowski’s control of the board as it prepares for an IPO.

Financial Times:
Klarna board decides to oust co-founder’s key ally in latest power tussle
Wall Street Journal:
Klarna Shareholders Vote to Remove Mikael Walther From Board