A special committee of IRL’s board of directors suspended CEO Abraham Shafi on Friday after receiving a report from outside counsel that outlined a pattern of misconduct by Shafi, an IRL spokesperson told The Information. The spokesperson declined to offer details on the misconduct described in the report or disclose which law firm prepared the report.
Scott Kauffman, who has previously served as CEO for tech and media firms including MDC Partners and Zinio, replaced Shafi as acting CEO. It is unclear how long Kauffman will remain in the role, the spokesperson said. Prior to being named CEO, Kauffman was not an investor, board member, adviser or employee of IRL, the spokesperson said.
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