Katerra Inc., the Silicon Valley prefab construction startup, has announced changes to its C-Suite management team, and the securing of $ 200 million in additional funding from SoftBank Group’s Vision Fund. Paal Kibsgaard, a former oil industry exec, has been tapped as the new chief executive of Katerra. Kibsgaard, has served on Katerra’s Board of Directors since 2016, and first joined the C-suite team last year, coming on board as chief operating officer. In his new role, Kibsgaard will succeed co-founder Michael Marks, who is leaving for a full-time role at Silicon Valley venture capital firm WRVI Capital.
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Katerra Names New CEO As SoftBank Infuses Another $200M