FOR IMMEDIATE RELEASE
Margalit Lindos assumes control of Power Ventures
November 21, 2017—As the #MeToo movement sweeps the nation, leading venture capital powerhouse Power Ventures has undergone a radical transformation. Every top executive facing sexual harassment allegations has stepped down, and new CEO Margalit Lindos has assumed control of the company. “The men have left the building,” said a spokeswoman. “The company is now run by female and gender-non-conforming employees from the top down and the bottom up.”
“I am honored and delighted to take on the responsibility of ushering in a new chapter for Power Ventures,” says Lindos. “We owe women an immeasurable debt. Under my direction, Powerventure will become a major supporter of female entrepreneurs in STEM fields. We will only be investing in women-led companies moving forward.”
“Once we’ve paid out the settlements to the victims of our former executive team,” says Lindos, “we will be investing in their startups. We believe in them. We will also be seeking out and funding other projects that fit our portfolio profile.”
Power Ventures, Inc. is a Fortune Company.