Stablecoin firm Circle finance chief Fox-Geen to step down

By Reuters News

Sept 25 (Reuters) - Stablecoin giant Circle Internet Group CRCL.N said on Friday its chief financial officer, Jeremy Fox-Geen, plans to step down after more than five years in the role.

Here are some other details:

  • The New York-based company is working with an executive search firm as it seeks the successor to its finance chief.

  • Fox-Geen, who joined Circle in May 2021, will continue as CFO through the end of 2026 to support the transition, unless a successor is appointed sooner.

  • He played a vital role in Circle's growth over the past few years, including navigating a $1.2 billion initial public offering last year.

  • "Jeremy has played a key role in building Circle into the company it is today. He brought strategic insight, financial leadership, and operating discipline through periods of both market turmoil and tremendous growth," said CEO Jeremy Allaire.

  • Fox-Geen said, "...Having achieved many milestones, it is now the right time for me to step down and take a break before my next chapter."

  • Circle also said co-founder Sean Neville was stepping down as a director, effective immediately, for personal reasons.

  • Neville's departure is part of an orderly process of board refreshment, the company disclosed in a regulatory filing.

  • Circle is the issuer of USDC, ​a dollar-pegged stablecoin with a market capitalization of about $75 billion, according to CoinMarketCap data.

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