Report: Klarna's board to oust another board member, Mikael Walther
Illustration: Gabriella Turrisi/Axios
Klarna's board has decided to remove one of its longest-serving board members, Mikael Walther, the Financial Times reported.
Why it matters: It's the second such boardroom clash this year at the BNPL giant, with Sequoia Capital partner Matthew Miller exiting in February after an unsuccessful attempt to unseat Michael Moritz.
Driving the news: Walther is reportedly a confidant of Klarna co-founder Victor Jacobsson, who no longer works at the company but is active as a shareholder.
- Jacobsson resigned from the board in 2016, with Walther being appointed as his successor.
- Klarna CEO Sebastian Siemiatkowski has, in the last year, sought special shares that would give him more rights and power than common shares. Jacobsson reportedly opposed the move.
- Walther has been the longest-serving non-executive member of the board, aside from Moritz.
- Klarna declined to comment. The removal still requires shareholder approval, per the FT.
Between the lines: This comes ahead of a potential 2025 IPO, a time when founders typically clean up or consolidate their share structures.
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