Andrei Cherny, the CEO of fintech firm Aspiration, is stepping down from his post at the company he co-founded amid a delay in plans to merge with a SPAC, Bloomberg reports.
InterPrivate III Financial Partners filed a preliminary proxy on the $2.3 billion deal in February. Since then, there have been no public regulatory filings that list a shareholder vote date or whether the SEC has declared the SPAC’s registration statement effective. Both parties agreed to push the merger deadline back to Dec. 31. Nicholaos Krenteras resigned as president and director of InterPrivate III Financial Partners in August, according to a regulatory filing.
Olivia Albrecht, who joined Aspiration earlier this year as the firm’s chief sustainability officer, is taking over as CEO, according to a person familiar with the matter who asked not to be identified discussing the move that hasn’t been announced publicly. Cherny didn’t immediately return a message for comment.
Cherny helped found the environment-focused fintech nine years ago. Read more.
