OpenWeb, a startup based in New York, has a unique problem. The co-founding CEO is not leaving, even though a new CEO was announced. The chairman of OpenWeb, Tim Harvey, sent an email to employees on Tuesday, saying he is becoming the CEO and thanking the longtime CEO, Nadav Shoval, for his passion. However, Shoval sent his own message to employees, stating that he is not stepping down as CEO and accusing the board of breaching his contract.
We tried to contact Shoval for more information. Harvey sent another email to OpenWeb employees, asking them to ignore Shoval’s note and assuring them that the CEO transition process is continuing as planned. Shoval is no longer listed on OpenWeb’s “who we are” page.
OpenWeb has received around $400 million from investors and was last valued at $1.5 billion in 2022.
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