Shoval has refused to step down, leading to a public and contentious email exchange between him and Harvey.
The conflict began after OpenWeb's board announced Harvey’s appointment, which Shoval claims breached his contract.
In a LinkedIn post, Shoval announced his decision to remain in his position, stating, “I have not stepped down as OpenWeb’s CEO.”
He accused the board of ignoring serious issues and proceeding with a leadership transition abruptly.
“Instead of addressing the issues, the Board chose to announce a leadership transition at a sudden Company-wide meeting, continuing to act against OpenWeb’s best interests,” Shoval wrote.
Shoval reiterated his stance in an email to OpenWeb’s staff, emphasizing, “The board has falsely stated that I am stepping out of my role as CEO. Let me be clear: that is not true and not my intent,” as reported by Fortune.
In response, Harvey assured staff that the transition process was continuing as planned.
“We are progressing with the CEO transition process as planned,” Harvey stated in his reply, according to Israeli outlet CTech.
He also emphasized the company’s commitment to handling the situation respectfully and maintaining stability, stating, “Our priority remains the continued success, stability, and providing value to our partners.”
Meanwhile, OpenWeb has updated its website to reflect Tim Harvey as the “Interim CEO” and removed Shoval’s name.
In a previous statement, the company acknowledged Shoval’s contributions and welcomed Harvey as the new interim leader, thanking Shoval for his dedication and leadership.