STOCKHOLM, May 25, 2021 /PRNewswire/ — Klarna the leading global bank, payments provider, and shopping service is pleased to confirm that Roger W. Ferguson Jr will join the Board of Directors. Mr. Ferguson is the former Vice Chairman of the Board of Governors of the U.S. Federal Reserve System, past President and Chief Executive Officer of TIAA, the Steven A Tananbaum Distinguished Fellow for International Economics at the Council on Foreign Relations and served on President Obama’s Council on Jobs and Competitiveness as well as its predecessor, the Economic Recovery Advisory Board. Mr. Ferguson will join the board chaired by Michael Moritz, partner at Sequoia Capital as well as recent appointments of other new members: Omid R. Kordestani, former executive Chairman of Twitter, Lise Kaae of Bestseller Group, and Sarah Smith, a senior advisor at Goldman Sachs.
Sebastian Siemiątkowski, CEO and co-founder of Klarna: “I am honoured that Roger is joining the Klarna board. Roger brings tremendous leadership experience in the very top tiers of economics, finance and policy, his global perspective and expertise will be of immense value to Klarna at a time when the business is gaining such strong momentum, especially in the United States. We are at a true inflection point as consumers are actively turning away from inferior services to those that better meet their needs and the Klarna team is looking forward to working closely together with the board on our mission to become the world’s favorite way to shop, pay and bank.”
Roger Ferguson: “I am excited to join such impressive colleagues on the Board of Klarna. Sebastian and the entire team have already demonstrated how Klarna provides a payment service that millions of consumers value and hundreds of thousands of merchants rely on. I look forward to participating in the Klarna board in the continued successful implementation of the company’s strategy.”
During his tenure at the U.S. Federal Reserve System, Mr. Ferguson represented the Federal Reserve on several international policy groups and served on key Federal Reserve System committees, including Payment System Oversight, Reserve Bank Operations, and Supervision and Regulation. Prior to joining TIAA in April 2008, Mr. Ferguson was head of financial services for Swiss Re, Chairman of Swiss Re America Holding Corporation, and a member of the company’s executive committee. Mr. Ferguson served on President Obama’s Council on Jobs and Competitiveness as well as its predecessor, the Economic Recovery Advisory Board, and he co-chaired the National Academy of Sciences’ Committee on the Long-Run Macroeconomic Effects of the Aging U.S. Population.
Mr. Ferguson is a member of the Smithsonian Institution’s Board of Regents and a fellow of the American Academy of Arts & Sciences and co-chairs its Commission on the Future of Undergraduate Education. He also serves on the boards of Alphabet, Inc.; Corning, Inc, General Mills, Inc and International Flavors & Fragrances. He serves on the boards of The Conference Board, the Institute for Advanced Study, Memorial Sloan Kettering Cancer Center, and Columbia University’s Teachers College. He is a fellow of the American Philosophical Society and a member of the Economic Club of New York, the Council on Foreign Relations, the Group of Thirty, and the National Association for Business Economics. Mr. Ferguson holds a B.A., J.D., and a Ph.D. in economics, all from Harvard University.
The Klarna Board will comprise of:
- Michael Moritz (Chairman of the Board)
- Sebastian Siemiatkowski (CEO and Board member)
The appointment is subject to SFSA approval.
We make shopping smoooth. Klarna’s offering to consumers and retailers include payments, social shopping, and personal finances. Over 250,000 retail partners, including H&M, Macys IKEA, Expedia Group, The North Face, Samsung, Etsy, ASOS, Peloton, Ralph Lauren, Abercrombie & Fitch, Nike and AliExpress have enabled Klarna’s innovative shopping experience online and in-store. Klarna is the most highly valued private fintech in Europe with a valuation of $31 billion, and is one of the largest private fintechs globally. Klarna was founded in 2005, has over 3,500 employees and is active in 17 countries. Klarna has been backed by Sequoia Capital since 2010 and more recently, Dragoneer, Ant Group, Silver Lake, Permira, Bestseller Group, Permira, Commonwealth Bank of Australia, Visa, Atomico, HMI Capital, TCV, Merian Chrysalis Investment Company Limited, funds and accounts managed by BlackRock amongst others. Klarna is ranked number five on the 2020 CNBC Disruptor 50 list. For more information, visit klarna.com.
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