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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.
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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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