Klarna Appoints Sequoia Capital Partner Michael Moritz as Chairman of the Board



Payment processing platform Klarna announced on Tuesday it has appointed Michael Moritz, partner at Sequoia Capital, as the Chairman of the Klarna Board of Directors and the appointment of three new members to the board: Omid R. Kordestani, former Executive Chairman of Twitter,  Lise Kaae of Bestseller Group, and Sarah Smith, a senior advisor at Goldman Sachs. Current Chairman Jon Kamaluddin and board member Sarah McPhee will resign from their positions on the board.

The Klarna Board will then comprise:

  • Michael Moritz (Chairman of the Board)
  • Sebastian Siemiatkowski (CEO and Board member)
  • Lise Kaae
  • Omid Kordestani
  • Sarah Smith
  • Mikael Walther
  • Andrew Young

Speaking about the additional board members, Sebastian Siemiatkowski, CEO and Co-Founder, stated:

 “I am humbled to welcome an exceptional group of executives to the Klarna Board and the longstanding commitment of Sequoia Capital and Sequoia Partner, Michael Moritz, to the company. Sequoia has been the principal shareholder and the key early backer of many of the world’s contemporary companies including Airbnb, DoorDash, Unity and WhatsApp.”

Founded in 2005, Klarna offers products and services to consumers and retailers within payments, social shopping, and personal finances. It enables consumers to make open payments quickly, easily, and securely; immediately, delayed, or in installments. Klarna works with over 205,000 retailers including in Germany H&M, Spotify, MediaMarkt, Expedia, Nike, and Deutsche Bahn.

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