In a surprising turn of events, OpenWeb founder and CEO Nadav Shoval has publicly refuted claims that he is stepping down from his leadership role. This comes after the company’s board of directors appointed Tim Harvey as the new interim CEO.
Shoval, in a LinkedIn post, stated unequivocally: “I have not stepped down as OpenWeb’s CEO.” He further accused the board of breaching his employment contract by announcing a leadership change without addressing what he called “concerning conduct.”
“I recently notified the Company that they breached my contract, which was intended to directly call out concerning conduct by the Board of Directors,” Shoval wrote. “Instead of addressing the issues, the Board chose to announce a leadership transition at a sudden Company-wide meeting, continuing to act against OpenWeb’s best interests.”
Shoval’s stance is clear: he does not accept the board’s actions. “I do not accept these actions,” he declared in his post. “I will continue to fight for OpenWeb’s mission and purpose alongside our team.”
Further solidifying his stance, Shoval sent an email to OpenWeb employees, addressing the board’s claims about his departure. “The board has falsely stated that I am stepping out of my role as CEO,” he wrote. “Let me be clear: that is not true and not my intent.”
Tim Harvey, now the interim CEO, responded to Shoval’s email, stating that the CEO transition process will proceed as planned. “We are progressing with the CEO transition process as planned,” Harvey wrote, according to reports. “As we move forward, we are committed to handling this situation with the utmost respect for all individuals involved and acknowledging their contributions to OpenWeb… Our priority remains the continued success, stability and providing value to our partners.”
OpenWeb, in its own statement, acknowledged Harvey as the interim CEO, thanking Shoval for his contributions as founder and CEO. However, the $1.5 billion company has remained silent on the specifics of the conflict.
This situation has raised questions about the internal dynamics at OpenWeb and the future of the company. With both Shoval and the board holding strong positions, it remains to be seen how this conflict will unfold and what implications it will have for OpenWeb’s future.
