Venture Powerhouse Sequoia Capital Names New Leader

Sequoia Capital named a new top leader, a rare transfer of power at one of Silicon Valley’s most storied venture-capital firms.

Sequoia partner Roelof Botha will take on a new role overseeing the firm’s U.S. and European funds, the company announced. In a concurrent note to investors, exiting Sequoia leader Doug Leone wrote that Mr. Botha “will set the overall tone and oversee the global centralized functions.”