Michael Cagney becomes the highest-profile executive to depart the online lending service that’s grappling with a lawsuit claiming harassment and fraudulent actions by managers.
That behavior has fueled a toxic work environment and blurred reporting lines for staff, according to the people, who asked not to be identified talking about sensitive internal matters.
The firm has started a search for a successor and Cagney will remain in his role until the board makes its selection, the company said in a statement.
The case was expanded this month to allege that the startup’s chief executive “fosters a sexually charged corporate culture that condones unlawful conduct,” and deters victims from speaking out.
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