Michael Goguen, the Sequoia Capital partner who was fired after a sexual abuse lawsuit was filed against him, will have his board seats transferred to other members of the firm, according to a source familiar with the matter.
A Sequoia spokesperson said the firm first learned of the claims on Thursday and promptly dismissed Goguen, who joined the Menlo Park, California-based firm in 1996.
Goguen sits on the boards of about 10 companies, including online lender Elevate Credit, which was on file to go public but postponed its offering in January as the stock market plunged. His only public board seat was at Infoblox, though he stepped down as a director there after the company's annual meeting in December, a spokesperson said.
A representative from Elevate did not immediately respond to a request for comment.
Sequoia holds the rights to disperse the seats to other partners, said the source, who asked not to be named because of the sensitivity of the case.