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Jeff Fernandez yesterday resigned as CEO of Grovo, an online training platform for digital and professional skills, Axios has learned. Also out are his two fellow co-founders.

A company spokeswoman confirmed the resignations, plus related layoffs of an undisclosed number of sales and marketing employees. All of this comes just 15 months after Grovo raised $40 million in new venture capital funding led by Accel Partners.

What happened? In a word, bloat. A source close to the New York-based company says that financial discipline was lacking.

What's next? Grovo is planning to release the next version of its product this summer, and recently opened a new office in San Francisco. Fernandez is expected to remain as CEO until his replacement is identified and hired by the board, on which he will continue to serve as a director.

Go deeper

Scoop: Trump tells confidants he plans to pardon Michael Flynn

Photo: Alex Wroblewski/Getty Images

President Trump has told confidants he plans to pardon his former national security adviser Michael Flynn, who pleaded guilty in December 2017 to lying to the FBI about his Russian contacts, two sources with direct knowledge of the discussions tell Axios.

Behind the scenes: Sources with direct knowledge of the discussions said Flynn will be part of a series of pardons that Trump issues between now and when he leaves office.

Erica Pandey, author of @Work
3 hours ago - World

Remote work shakes up geopolitics

Illustration: Eniola Odetunde/Axios

The global adoption of remote work may leave the rising powers in the East behind.

The big picture: Despite India's and China's economic might, these countries have far fewer remote jobs than the U.S. or Europe. That's affecting the emerging economies' resilience amid the pandemic.

Trump gives Biden access to presidential intelligence briefings

Photo: Mark Makela/Getty Images

The Trump White House on Tuesday gave President-elect Biden access to daily presidential intelligence briefings, a source familiar with the matter tells Axios.

Why it matters: Trump has refused to share the briefs until now, as he continues to challenge the result of the election and declines to concede. The president's acquiescence comes as another sign that the transition to a Biden administration is taking place.

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