Sequoia names Alfred Lin and Pat Grady as new co-stewards as Roelof Botha steps down

Leadership Changes - Roelof Botha is stepping down as the senior steward of Sequoia Capital, with partners Alfred Lin and Pat Grady succeeding him as co-stewards [1] - Alfred Lin has been with Sequoia since 2010 and has led investments in companies like Airbnb and DoorDash, while Pat Grady has been a partner for nearly 19 years and has focused on growth-stage investing since 2015 [2] Financial Oversight - Since taking over leadership of Sequoia's U.S. and European operations in 2017, Botha has overseen the distribution of $50 billion to the firm's limited partners [3] - Under Botha's leadership, Sequoia faced significant challenges, including a $200 million write-off from its investment in FTX and the impact of a downturn in public markets [3] Controversies and Internal Dynamics - Sequoia faced controversy over partner Shaun Maguire's comments regarding a New York City mayoral candidate, which led to backlash and the resignation of COO Sumaiya Balbale [4] - Botha emphasized the firm's commitment to free speech and diversity of opinions among partners, despite the internal turmoil caused by Maguire's remarks [5]