On Saturday of last week, the news arrived that Alireza Qanadan has been appointed as the new CEO of “Lendo” and replaced Amir Haqranjabar
According to Iran digital economy annotation, Qanadan was previously the CEO of Tehran Taxi Organization. The announcement of this appointment was made while Amir Haqranjabar denied his dismissal and said that this incident is against the Lendo shareholding agreement. He said in a post on X (former Twitter): “We will definitely not allow Bank Ayandeh to take advantage of the legal method.”
On the 7th of March 2024, Amir Haqranjabar accepted his separation from Lendo by publishing a post on LinkedIn and congratulated the new CEO, although he emphasized that this happened “unjustly”. He refrained from mentioning the details of the incident, but he stated that he accepted this decision during Lendo’s good days and contrary to the company’s shareholders’ agreement, due to a disagreement with Farda’s relationship (the company’s major shareholder).
The text published by Amir Haqranjabar is as follows:
About 9 years ago, we established the current Lendo together with my brother and the support of my father. In March of last year, destiny was such that my brother went to God’s mercy and separated from Lendo. In March of this year, destiny went to the direction that I was also unjustly separated from Lendo.
Today, after 9 years of activity, with more than 150 personnel, 2 million users, more than 2 thousand billion Tomans in monthly facility requests and an NPS index higher than the industry average, Lendo is recognized as one of the largest Lendtech and Fintech businesses.
The reason for my separation was the disagreement of the shareholders in the way of managing the company. Although according to the shareholder agreement (SHA) that was signed in July 2023 (Lendo’s last round of fundraising), the executive management was the responsibility of the entrepreneurial team, but unfortunately, the 70% shareholder (Farda Communication Group owned by Ayandeh Bank) with Having the majority of the board of directors acted against the agreement and tried to change the CEO of the company.
In this situation and in consultation with my friends, I decided to waive my legal right in order to prevent damage to the brand and to prevent injury to the personnel who were the dearest part of the business to me.
I don’t want to publicly express internal differences, but in any case, as a person who for 9 years in Lendo was under the most intense pressure from the regulator, the market, shareholders, banks, etc., and this year we had an extraordinary performance, as well as the founder, I was a shareholder and member of the board of directors of this company, unfortunately I was not treated properly.
On the other hand, I am confident that Lendo will have better days with my departure due to the integrity of thinking in the management.
From the bottom of my heart, I wish success for Lendo, which we have worked with heart and soul in these years with my late brother for its survival and growth, and I hope that the personnel and my dear comrades in Lendo will experience better days from now on.
In the end, I wish success to Mr. Alireza Qanadan, who has been appointed as the CEO of Lendo.
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