Klarna Bank AB (publ) appointed Michael Moritz chairman of its board of directors.

Moritz replaces Jon Kamaluddin, who will resign from his post. Moritz, who is a partner at Sequoia Capital, has been a director at Klarna's board since 2010.

The Swedish global payments provider also named Omid Kordestani, Lise Kaae and Sarah Smith members of its board.

Kordestani was previously executive chairman of Twitter Inc., while Kaae was previously a board director at Svenska Handelsbanken AB (publ) and currently serves as CEO of investment company Heartland A/S. Smith is currently a senior adviser at Goldman Sachs Group Inc.

Meanwhile, Sarah McPhee will step down from Klarna's board.