Clearco’s CEO, Michele Romanow, Stepping Down as Company Lays Off More Staff

FP | Stephanie Hughes  | Jan 16, 2023

Clearco - Clearco's CEO, Michele Romanow, Stepping Down as Company Lays Off More StaffDragons’ Den star and serial entrepreneur Michele Romanow is stepping down as chief executive of Toronto-based Clearco, nearly a year after she took on the position, but will stay on in a new role as co-executive chairman.

  • The move is part of a series of changes at the e-commerce financing company that includes cutting its workforce by 25 per cent as it continues a restructuring strategy.
    • Last summer, Clearco laid off roughly a quarter of its staff and scaled back its international operations, eliminating all of its staff in Ireland, the U.K. and Australia. Those moves reportedly affected about 60 employees.
  • Andrew Curtis now CEO of the lender to e-commerce startups while Romanow will oversee external relations and lead fundraising efforts going forward during what she calls a “natural inflection point” for the company this year.
    • Curtis has over 20 years of finance and capital markets experience in New York, including roles at major investment banks Merrill Lynch & Co. and Lazard Frères.

See:  Clearco Hires Advisor to Evaluate Strategic Options and Exits Foreign Markets

Michelle Romanow:

As a founder, the most important thing to me is the long-term vision of Clearco.  After running this company for the last eight years, it was obvious we needed new leadership to take the company to new heights.

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