Sequoia Capital Undergoes Leadership Shakeup as Moritz Departs, Vernal Exits

Michael Moritz is leaving Sequoia Capital after nearly 40 years to focus on the firm's wealth management arm.
Mike Vernal, a partner focused on early-stage startups, is also leaving the storied VC firm.
The moves come amid a broader restructuring at Sequoia led by global managing partner Roelof Botha.
Moritz's exit will lead to board seat changes at Stripe, Klarna, Instacart and other Sequoia-backed startups.
Sequoia's assets under management have declined in recent months amid the broader pullback in startup funding.