Tradeshift Dismisses CEO Amid Sexual Assault Allegations

Danish fintech company, Tradeshift, has terminated its CEO, Christian Lanng, following allegations of sexual assault and harassment.

Serious Allegations Trigger Action

In a recent statement, Tradeshift revealed that the board and management team had become aware of severe allegations against Lang in late August. The CEO was subsequently dismissed for gross misconduct on multiple grounds on September 1st.

Interim Leadership and Whistleblowing Measures

Following Lanng’s departure, James Stirk, the company’s Chief Revenue Officer, has stepped into the role of interim CEO. Additionally, the company has introduced an anonymous whistleblowing line to its global employee assistance program, initially launched last year. Tradeshift emphasizes its dedication to addressing workplace misconduct and ensuring a safe and supportive environment for its team.

Recent Investments and Departures

HSBC recently invested $35m in Tradeshift and launched an embedded finance venture with the company. This deal builds on HSBC’s participation in Tradeshift’s Series A funding round in 2018. Goldman Sachs also invested in the company in 2018 but sold its shares this year.

CEO Denies Allegations

Lanng, who announced his departure on LinkedIn last month, citing burnout, has denied the allegations. He stated that there has never been an HR case, complaint, or formal allegation filed against him at Tradeshift, and he categorically refutes all allegations. Lanng also mentioned that multiple co-founders are leaving the company following his dismissal.

Co-Founder’s New Endeavor

Mikkel Hippe Brun, one of Tradeshift’s co-founders, has announced that he will be joining his wife Pernille Brun at her startup, Session.