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

• 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