Online lender Social Finance on Friday said its co-founder and CEO Mike Cagney will leave the company and its board of directors said Executive Chairman Tom Hutton will become interim CEO, effective immediately.

The shakeup comes in the wake of claims and a lawsuit over sexual harassment at the San Francisco company, known as SoFi. Several former employees said that Cagney had inappropriate relationships with SoFi employees.

In a letter to employees on Monday, Cagney said: “the combination of HR-related litigation and negative press have become a distraction from the company’s core mission.”