Circle Begins CFO Search as Co-Fo under Sean Neville Leaves Board

Circle Internet Group is preparing for a leadership transition after co-fo under P. Sean Neville resigned from its board and Chief Financial Officer Jeremy Fox-Geen announced plans to leave by year-end.

The changes were disclosed on Sept. 25 as the stablecoin company continues expanding its financial infrastructure business. Reuters reported that Fox-Geen will remain CFO through the end of 2026 unless Circle appoints his successor sooner.

Neville’s departure took effect immediately. Circle said he resigned for personal reasons and described the move as part of an orderly board refresh. The company also said neither departure resulted from disagreements over its operations, policies or practices.

Board Changes Take Effect Immediately

Neville joined Circle’s board in 2016 and was among the company’s co-founders. His resignation reduces Circle’s board from eight directors to seven.

The company has not announced a replacement director. Circle also did not indicate whether it plans to restore the board to eight members.

The departure comes as Circle continues to position USDC as a major component of its digital payments and blockchain infrastructure strategy.

CFO Search Begins

Fox-Geen has served as Circle’s CFO for more than five years after joining the company in May 2021. Circle credited him with helping build its finance organization and guiding the company through its $1.2 billion initial public offering.

Circle has hired an executive search firm to find his replacement. Fox-Geen will continue supporting the transition through Dec. 31, unless a successor assumes the position earlier.

“I have the greatest confidence in the company’s future,” Fox-Geen said in Circle’s announcement.

Circle said Fox-Geen decided that completing several milestones made this an appropriate point to step down.

Transition Comes as Circle Expands

Fox-Geen’s departure will require Circle to hand its finance leadership to a new executive while the company continues developing its stablecoin and payments businesses.

The leadership changes therefore create a period of transition for Circle, but the company has emphasized continuity. Fox-Geen will remain involved through the hand over, while the board continues with seven directors.

The next CFO will inherit responsibility for financial operations at a company whose public-market profile has grown significantly since its IPO.