Stablecoin firm Circle finance chief Fox-Geen to step down

Sept 25 (Reuters) - Stablecoin ‌giant Circle Internet ​Group ​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.

(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shilpi ‌Majumdar)

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