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Klarna shareholders approved the removal of investor Mikael Walther from the board of Klarna Group plc on October 24, 2024. The vote completed a removal that had been reported as imminent earlier that month; it is not a pending action today. Klarna said the resolution passed by an 87% majority.
What happened to Mikael Walther?
On October 6, 2024, TechCrunch reported that seven directors had agreed to remove Walther from Klarna’s eight-person board. On October 24, Klarna Group plc confirmed that its shareholders had passed an ordinary resolution removing him from the board. The company’s announcement states: “The shareholders of Klarna Group PLC passed the ordinary resolution to remove Mikael Walther from the Board of Directors.” TechCrunch’s October 6 report described the expected action; Klarna’s October 24 announcement confirmed the result.
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Klarna said the Walther removal resolution passed by an 87% majority — Klarna Group plc, 2024. Shareholders also approved a separate special resolution amending the company’s articles of association, likewise by an 87% majority. The announcement does not specify the precise grounds for removing Walther.
Why was Walther removed?
Klarna’s formal announcement confirms the vote but gives no specific reason for Walther’s removal. TechCrunch reported that Walther had served nearly eight years and was a confidante of Klarna co-founder Victor Jacobsson. It also described tensions involving Jacobsson and co-founder and CEO Sebastian Siemiatkowski. Those are reported boardroom context, not a reason Klarna stated for the shareholder resolution.
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TechCrunch also recounted a separate dispute earlier in 2024: Sequoia investor Matt Miller was said to have advocated removing board chair Michael Moritz, who wrote Klarna’s first check for Sequoia in 2010. The report says that about six weeks later Sequoia apologized, withdrew Miller, and installed Andrew Reed as its representative. That episode provides context for reported tensions at the company, but it does not establish the formal basis for Walther’s removal.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How was this different from the Klarna Holding AB board changes?
Klarna announced another board change on October 24, 2024, involving Klarna Holding AB, a separate entity from Klarna Group plc. After an extraordinary general meeting on October 17, Klarna Holding AB appointed David Fock and Camilla Giesecke alongside Sebastian Siemiatkowski. Fock became chair, and the other directors were dismissed from that subsidiary board.
Klarna said Klarna Holding had become a subsidiary of the ultimate parent rather than an operating entity, and that its board was being aligned with those of other subsidiaries. That explanation applies to the Klarna Holding AB reorganization; it is not the stated rationale for the shareholder vote removing Walther from Klarna Group plc. See Klarna’s announcement about Klarna Holding AB.
What does Klarna’s board do, and who is on it?
Klarna’s governance page describes the board as the company’s highest decision-making body, responsible for oversight of strategy and organization and ultimately accountable for effective corporate governance. Shareholders elect board members at the annual general meeting for three-year terms that run through the relevant meeting.
Board membership changes over time, so the date attached to a roster matters. Klarna’s annual report for the fiscal year ended December 31, 2025 lists Michael J. Moritz as chair. It names Roger W. Ferguson Jr., Lise Kaae, Omid R. Kordestani, Andrew Reed, Sarah Smith, Mateusz Staniszewski, and Markus Villig as non-executive directors; Sebastian Siemiatkowski and Niclas Neglén are listed as directors among executive officers.
Klarna’s leadership page, accessed October 8, 2026, lists Michael Moritz as chair and Sebastian Siemiatkowski, Roger W. Ferguson Jr., Sarah Smith, Markus Villig, Niclas Neglén, Mati Staniszewski, and Omid Kordestani as board members. The page and the 2025 filing have different dates and presentation, so they should be read as separate dated snapshots rather than merged into one roster.
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