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Albrecht, who joined the company earlier this year as Chief Sustainability Officer, succeeds Aspiration co-founder Andrei Cherny who served as CEO for nine years. Cherny will retain his position on the board, the company said in a statement.
Aspiration’s leadership change comes as the company’s merger with blank-check firm InterPrivate III Financial Partners Inc continues to be delayed.
Last year, InterPrivate said it would take the startup public in a deal valuing Aspiration at $2.3 billion. The merger, which was expected to be closed by the first quarter of 2022, is yet to be completed.
California-based Aspiration, which provides banking services, credit cards and investment products, had raised $315 million from funds managed by Oaktree Capital Management and affiliates of former Microsoft Corp (NASDAQ:MSFT) CEO Steve Ballmer late last year.
