New York-based OpenWeb faces leadership drama as co-founder refuses to step down despite new CEO appointment
CTech says that on Tuesday, OpenWeb’s chairman, Tim Harvey, told workers in an email that he was taking over as CEO and thanked longtime CEO Nadav Shoval for his “incredible passion.” Soon after, Shoval sent his message to workers: “The board has falsely stated that I am stepping down as CEO. That is not true and is not my intent.” Shoval also noted that the board had broken his contract.
We tried to get in touch with Shoval. In the meantime, Harvey is said to have sent another email to OpenWeb workers telling them not to pay attention to Shoval’s note. “I’m sorry to everyone who got this email.” We are moving forward with the planned process for replacing the CEO. OpenWeb’s “Who We Are” page no longer has Shoval. (Not cool.)
A round of $400 million was raised for OpenWeb by investors, who last put its value at $1.5 billion in 2022.