Circle CFO Jeremy Fox-Geen will step down

Circle announced Friday that CFO Jeremy Fox-Geen will step down. Fox-Geen will remain CFO until the end of December unless Circle names a successor earlier. Fox-Geen will step down after more than five years in the role. Circle said he played key roles in the company's growth and success, including its $1.2 billion initial public offering last year. Fox-Geen said he had achieved many milestones and considered it the right time to step down and take a break before his next chapter. He also said he had the greatest confidence in the company's future. Co-founder Sean Neville stepped down from Circle's board with immediate effect, according to a Form 8-K filed Friday. Neville had served on the board since 2016. The board was reduced from eight directors to seven. Circle CEO Jeremy Allaire thanked Neville for his extraordinary service. Allaire said Neville's vision and commitment helped shape Circle, the company behind the world's second-largest stablecoin, USDC. Circle shares closed 4.30% lower at $89 during Friday's regular trading session, according to Benzinga Pro. Shares were down 2.45% in overnight trading on Robinhood. The departures were the latest in a broader pattern of senior exits from leading cryptocurrency companies. Coinbase Chief Legal Officer Paul Grewal announced his exit earlier in July after six years of service. Grayscale CFO Edward McGee stepped down in July for personal reasons and not because of any disagreement with the company.