Open Weba New York startup whose tools help publishers engage with users, has a particular problem. Its co-founder CEO won’t be leaving, even though it announced a new CEO.
According to CTechOn Tuesday, OpenWeb President Tim Harvey sent an email to employees, saying he would become CEO and thanking longtime CEO Nadav Shoval for his “incredible passion.” Shortly afterward, Shoval shared his own message to employees, stating that the “board of directors has falsely stated that I am stepping down from my role as CEO… that is not true and is not my intention.” Shoval further accused the board of breaching its contract.
We reached out to Shoval. Meanwhile, Harvey reportedly sent other email to OpenWeb employees, suggesting they ignore Shoval’s note. “My apologies to everyone who received this email. We are moving forward with the CEO transition process as planned.” Shoval has also left OpenWeb.Who we are” page.
OpenWeb raised around $400 million from investors; the latest valuation was given in 1.5 billion dollars in 2022.