Inside LendingClub’s Shakeup: CEO Exit Said to Hang on Trust
- Directors said to fault Laplanche for communication breakdown
- ‘We failed to meet our high standards,’ he says in statement
LendingClub Shakeup: What Comes Next?
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Repeated lapses. An alarmed board. And a CEO who didn’t seem to fully reveal what he knew.
Days before LendingClub Corp. ousted founder and Chief Executive Officer Renaud Laplanche, board members thought they’d settle for stripping him of his chairman title over a few missteps, then move on. But as they pressed him for details about what happened and what he knew, frustrations mounted, according to people with knowledge of the talks.