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The saga unfolded after long-term disagreements between two of the founders at Stockholm-based Klarna. That conflict drew in current partners at Sequoia, Klarna’s major backer, pitting them against their own former partner and Silicon Valley heavyweight Michael Moritz.
On Wednesday, Siemiatkowski said in an email to shareholders that Andrew Reed will be the new board member from Sequoia, replacing Miller. “I believe Andrew to be a perfect fit for Klarna and am excited to work with him going forward,” Siemiatkowski wrote in the email, reviewed by Bloomberg. “I appreciate the long-standing support and partnership with Sequoia and Michael, especially now as we accelerate our exciting journey towards IPO in the era of generative AI.”
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