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Sequoia looks to oust Michael Moritz from Klarna in boardroom dispute

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Sequoia looks to oust Michael Moritz from Klarna in boardroom dispute

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Sequoia Capital is seeking to oust its former leader Michael Moritz as chair of the fintech Klarna, an extraordinary move that reflects the venture capital group’s mounting discontent over the governance of what was once Europe’s most valuable start-up.

The boardroom dispute adds to pressure on Klarna chief executive and co-founder Sebastian Siemiatkowski as the Swedish “buy now, pay later” pioneer prepares for a public listing, people with knowledge of the situation told the Financial Times.

Moritz, who led Sequoia’s investments into Google, PayPal, YouTube and Klarna over a near-40 year career, is a crucial boardroom ally of Siemiatkowski, according to three people with knowledge of their relationship. One person with knowledge of the move said removing Moritz could be viewed as “step one to removing Sebastian”.

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When Moritz left Sequoia last year, the firm’s managing partner Roelof Botha told investors that he would “smoothly transition” off boards at Sequoia companies “over time”.

But Moritz retained an independent role on Klarna’s board even as a new Sequoia partner, Matthew Miller, was appointed. The formal procedure to oust Moritz was initiated by Miller, who sent a letter to other investors seeking an extraordinary shareholder meeting to remove his former colleague from the Klarna board.

Miller was representing Sequoia and had the full backing of Botha and the firm’s partnership, according to people familiar with the matter. They added that other shareholders were sympathetic to Sequoia’s effort.

Asked to comment on the effort to remove Moritz, Sequoia said: “As we engaged with the company with a new board member, we realised there were a series of governance changes that needed to be made to set the company up for its future.”

“We’re excited to back Sebastian and Klarna’s journey ahead. This request is about board composition to set the company up for its next chapter,” a spokesperson added.

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Sequoia is Klarna’s largest shareholder, with funds advised by the firm holding a 22 per cent stake, according to a corporate governance report published last year.

The Information first reported Sequoia’s attempt to remove Moritz as chair.

Moritz declined to comment. He remains a senior adviser to Sequoia Heritage, a wealth management fund independent from Sequoia Capital. Klarna also declined to comment.

Klarna has long been viewed as a prime candidate for a public offering, and has backing from big investors including SoftBank, Silver Lake, Permira, Canada Pension Plan Investment Board and Mubadala Investment Company, the $276bn sovereign fund of the UAE.

Behind the scenes, Klarna had been preparing for an IPO for the past year, according to a person with knowledge of the matter. The company had not yet appointed advisers but last year set up a new legal entity in the UK to simplify a potential listing, this person said. Siemiatkowski has also recently spoken about his intent to take the company public.

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A long anticipated IPO has been stalled by higher interest rates, which have hit the valuations of private start-ups over the past two years and deterred all but a handful of large companies from going public. Klarna soared to a valuation of almost $46bn in 2021, but a year later its valuation was slashed to about $7bn when it raised $800mn from investors.

The IPO drought has increased the pressure on venture capital firms, which rely on mergers, acquisitions and listings to cash out stakes in private companies and return capital to their own backers, to edge the best candidates in their portfolios towards the public markets.

Online grocery delivery company Instacart, another prominent Sequoia portfolio company, listed last year — following a corporate governance reshuffle in 2021 that saw founder Apoorva Mehta step back from his role as chief executive to become executive chair.

One investor said they did not hold out any hopes of an IPO under Siemiatkowski, despite the chief executive’s public statements that he was ready to float the company whenever market conditions improved. But another person with knowledge of the board dispute said Siemiatkowski “has no objection to the company being floated”.

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Why cruise ship passengers with possible hantavirus exposure went to Nebraska

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Why cruise ship passengers with possible hantavirus exposure went to Nebraska

The National Quarantine Center is located at the University of Nebraska Medical Center in Omaha.

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Nebraska Medicine

Sixteen of the 18 passengers transferred to the U.S. from a cruise ship where there was an outbreak of hantavirus arrived in Omaha, Neb., on Monday for evaluation after disembarking the vessel in Spain’s Canary Islands over the weekend.

Of the 15 U.S. citizens and one dual U.S.-British citizen who arrived in Nebraska, all but one are currently being housed in the National Quarantine Unit. That patient tested positive for the virus and was being housed in the Nebraska Biocontainment Unit, officials said at a Monday news conference. The 15 people in the quarantine unit will continue to be monitored for signs of the illness.

Passengers carry their belongings in plastic bags after being evacuated from the MV Hondius after docking in the Granadilla Port on May 10, 2026 in Tenerife, part of the Canary Islands, Spain.

Passengers carry their belongings in plastic bags after being evacuated from the MV Hondius after docking in the Granadilla Port on Sunday in Tenerife, part of the Canary Islands, Spain.

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Nebraska may seem an unlikely location to process these individuals, but it is home to the National Quarantine Unit — the only federally funded quarantine unit in the U.S. — and the separate Nebraska Biocontainment Unit. They are highly specialized facilities located at the University of Nebraska Medical Center (UNMC) and widely considered among the best in the world.

The $1 million, five-room biocontainment unit was dedicated in 2005. It was a joint project with Nebraska Health and Human Services and the UNMC. It is set up to safely provide medical care for patients with highly hazardous and infectious diseases and was used in 2014 to treat two doctors infected with Ebola. The National Quarantine Unit was completed in late 2019. It cost nearly $20 million, according to the Associated Press. Both facilities were used during the COVID-19 epidemic.

“We are prepared for situations exactly like this,” Dr. Michael Ash, CEO of Nebraska Medicine, said in a statement. “Our teams have trained for decades alongside federal and state partners to make sure we can safely provide care while protecting our staff and the broader community. We are proud to support this national effort.”

Two additional U.S. passengers on the cruise ship — a couple, with one showing symptoms of hantavirus — were transferred for monitoring to Emory University Hospital, where another advanced biocontainment facility is located.

When the biocontainment unit was first dedicated more than 20 years ago, the biggest concerns were anthrax attacks and severe acute respiratory syndrome, more commonly known as SARS, Dr. Phil Smith, who spearheaded the efforts at Nebraska Medical Center to create the biocontainment unit, told the AP in 2020. Smith died last year.

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A hallway leading to rooms at the Nebraska Biocontainment Unit at the University of Nebraska Medical Center.

A hallway leading to rooms at the Nebraska Biocontainment Unit at the University of Nebraska Medical Center.

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The quarantine unit features 20 negative-pressure rooms designed to keep potentially harmful particles from escaping by maintaining lower air pressure inside than outside the rooms. The single-occupancy rooms provide patients with attached bathrooms, exercise equipment and Wi-Fi, according to the medical center.

“We have protocols in the quarantine unit that provide for safe care of these of these persons, including just all the activities of daily living so that they can … have a comfortable stay but also have it in an area that’s protected and limits spread of the pathogen,” Dr. Michael Wadman, the medical director of the National Quarantine Unit, said at a Friday news conference. 

The biocontainment unit, by contrast, is a patient-care space where people are able to receive medical treatment, Dr. Angela Hewlett, medical director of the biocontainment unit, told reporters Monday.

She emphasized that the facility — which has a 10-bed capacity — operates independently from the quarantine unit and has its own dedicated air-handling system. “We don’t share [it] with any of the rest of the facility,” she said, noting that the unit uses rooftop HEPA filtration and is designed “very differently” from what most people typically imagine in a hospital setting.

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One of the rooms in the Nebraska Biocontainment Unit.

One of the rooms in the Nebraska Biocontainment Unit.

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Nebraska Gov. Jim Pillen, speaking at Monday’s news conference, welcomed the recently arrived patients, who are among nearly 150 people from 23 different countries who were aboard the MV Hondius when the illness most commonly transmitted to humans through contact with infected rodents broke out. As of Monday, the World Health Organization has reported at least nine cases of hantavirus, including three deaths.

“We’re glad that you’re here,” Pillen said. “We’re going to ensure that you have the best world-class care possible.”

Pillen also sought to reassure Nebraskans that the facilities are safe and secure: “We’re working diligently to ensure no one leaves the security in an unsecured way at an inappropriate time,” he said. “No one poses a risk to public health, just walking out the front door of the streets of Omaha.”

The hantavirus outbreak on the cruise ship has been identified as the Andes strain of the illness, one that can be spread, though rarely, from person-to-person, according to the Centers for Disease Control and Prevention. It can cause severe respiratory disease, with early flu-like symptoms.

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“The Andes variant of this virus does not spread easily, and it requires prolonged, close contact with someone who is already symptomatic,” according to Adm. Brian Christine, the assistant secretary for health at the U.S. Department of Health and Human Services, who spoke at Monday’s news conference. “Even so, we have taken this situation very seriously from the very start.”

“The risk of hantavirus to the general public remains very, very low,” he said.

The full quarantine period for hantavirus is 42 days, Christine said, but he added that the patients would be allowed to go home if they remained asymptomatic.

“Right now, the passengers that are all in the assessment phase — they’re going to be here for at least a few days while we do assessments and the coordination on what happens next,” he said, adding that they had the option to remain in the quarantine facility for the full period, for “the safest and most effective option for them.”

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Video: Americans Exposed to Hantavirus on Cruise Ship Arrive in United States

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Video: Americans Exposed to Hantavirus on Cruise Ship Arrive in United States

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Americans Exposed to Hantavirus on Cruise Ship Arrive in United States

Eighteen passengers who were aboard the MV Hondius, a cruise ship with a deadly hantavirus outbreak, landed in Omaha on a U.S. government medical flight. The passengers were being monitored at medical facilities in Nebraska and Georgia.

We’re working diligently to ensure no one leaves the security in an unsecured way at an inappropriate time. No one who poses a risk to public health is walking out the front door of the streets of Omaha or beyond.

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Eighteen passengers who were aboard the MV Hondius, a cruise ship with a deadly hantavirus outbreak, landed in Omaha on a U.S. government medical flight. The passengers were being monitored at medical facilities in Nebraska and Georgia.

By Axel Boada

May 11, 2026

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White House Correspondents’ Dinner shooting suspect pleads not guilty in federal court

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White House Correspondents’ Dinner shooting suspect pleads not guilty in federal court

The man charged with attempting to assassinate President Donald Trump at the White House Correspondents’ Association dinner last month pleaded not guilty at a Monday arraignment in federal court.

Cole Tomas Allen, 31, wearing an orange shirt and trousers, was handcuffed and shackled as he was brought into the courtroom in Washington, D.C., federal court. His handcuffs were attached to a chain around his waist, which clanked as he was led to the defense table.

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Speaking on behalf of Allen, federal public defender Tezira Abe said her client “pleads not guilty to all four counts as charged,” including attempting to assassinate the president of the United States, in connection with the April 25 incident at the Washington Hilton hotel.

Assistant U.S. Attorney Charles Jones advised the court that they plan to start producing their first tranche of discovery to the defense by the end of the week.

Officials said Allen, a California teacher and engineer, was armed with multiple guns, as well as knives, when he sprinted through a security checkpoint near the event where Trump and other White House officials had gathered with journalists.

He was arrested after an exchange of gunfire with a U.S. Secret Service officer who fired at him multiple times, a criminal complaint said. Allen was not shot during the exchange. The officer, who was wearing a ballistic vest, was shot once in the chest, treated at a hospital and released.

Trump and top members of his Cabinet and Congress were quickly evacuated from the room as others ducked under tables.

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Allen was initially charged with attempting to assassinate the president, transportation of a firearm and ammunition through interstate commerce with intent to commit a felony, and discharge of a firearm during a crime of violence. On Tuesday, a federal grand jury indicted him on a new charge in the shooting of a Secret Service agent.

Moments before the attack, Allen had sent his family members a note apologizing and criticizing Trump without mentioning the president by name, according to a transcript of some of his writings provided to NBC News by a senior administration official. Allen also wrote that “administration officials (not including Mr. Patel)” were “targets.”

He also appeared to have taken a selfie in his hotel room. Prosecutors said Allen, who was dressed in a black button-down shirt and black pants, was “wearing a small leather bag consistent in appearance with the ammunition-filled bag later recovered from his person,” as well as a shoulder holster, a sheathed knife, pliers and wire cutters.

Officials have said they believe Allen had traveled by train from California to Washington, D.C., before checking into the hotel.

Allen’s sister, Avriana Allen, told law enforcement that her brother would make radical comments and constantly referenced a plan to fix the world, but said their parents were unaware that he had firearms in the home and that he would regularly train at shooting ranges.

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Records show that he had purchased a Maverick 12-gauge shotgun in August 2025 and an Armscor Precision .38 semiautomatic pistol in October 2023.

After his arrest, Allen told the FBI that he did not expect to survive the incident, according to Assistant U.S. Attorney Jocelyn Ballantine. He was briefly placed on suicide watch at the Washington, D.C., jail, where he’s being held.

Allen is expected to appear in court for a June 29 hearing.

At Monday’s arraignment, his legal team said they plan on asking for the “entire office” of the U.S. attorney for the District of Columbia to be recused because of U.S. Attorney Jeanine Pirro’s apparent involvement in the case in a “supervisory role.” Federal public defender Eugene Ohm said some of the evidence they receive from the government will further inform that decision.

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