Abu Dhabi Fund Mubadala Loses Wefox Boardroom Battle as Sales Plan Rejected

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Wefox Holding AG is replacing Chief Executive Officer Mark Hartigan after the German insurance tech startup’s board rejected a proposal by its largest stakeholder, Mubadala Investment Co., that he backed to sell the company.

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Mubadala Favors Selling Fintech Wefox Against Founders’ WishesMubadala Investment Co. has proposed selling troubled insurance tech startup Wefox to UK insurance broker Ardonagh Group Ltd. in a deal opposed by the German firm’s founders.
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