Kinnevik Directors Exit Rocket Board in Sign of Divide

Investment AB Kinnevik pulled its two directors from the supervisory board of Rocket Internet SE, the latest sign of growing friction between two companies that have co-invested in European and emerging market startups for several years. Lorenzo Grabau, Kinnevik’s chief executive officer, and Erik Mitteregger, a board member of the Swedish investment company, will step down June 9, Rocket said in a statement Monday. They will be replaced by former Deutsche Bank AG finance chief Stefan Krause and Orange SA executive Pierre Louette. Grabau, a former Goldman Sachs Group Inc. banker, stepped down as Rocket chairman late last year.