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Clearco CEO Michele Romanow has stepped down




Clearco, a fintech company, has announced that its co-founder, Michele Romanow, has stepped down as CEO and that the company has laid off 30% of its staff. The company, which was valued at $2 billion, is facing the challenge of turning things around and defending its valuation.

Romanow, who is also an executive chairman, stated in an interview that the decision was made in pursuit of profits and the company's need to become a profitable business.


Andrew Curtis, who has spent 20 years in the financial services industry, will be taking over as CEO and has stated his goal is to push the company towards profitability and cash flow break-even.



Key points from the original article:

  1. Clearco co-founder, Michele Romanow, has stepped down as CEO of the company.

  2. The shift comes alongside another round of layoffs, impacting 30% of staff across all teams.

  3. The company has undergone numerous rounds of layoffs over the pandemic, including a cut that impacted 25% of staff.

  4. Andrew Curtis, who has spent 20 years in the financial services industry, will be taking over as CEO and has stated his goal is to push the company towards profitability and cash flow break-even.

  5. Romanow, who is also an executive chairman, stated in an interview that the decision was made in pursuit of profits and the company's need to become a profitable business.

 

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