He was a cofounder, chairman and CEO so it's a big, and sadly a very negative, event.
It isn't sad for retiring CEO Laplanche is it? I mean, it looks like they cooked the books, and now he's quitting before having to deal with the repercussion.
My guess is that he was forced out, but I'm not sure it matters if it was under his own will or not. Either way, it's definitely not sad for him or LendingClub.
We probably don't know enough yet to be clear what the real details for the departure are. It could be that all of this is due to poor oversight, and not malice.