Circle CFO Jeremy Fox-Geen to step down by year-end after steering $1.2B IPO
The USDC issuer loses two senior figures in one day as co-founder Sean Neville also exits the board
Circle Internet Group, the company behind the USDC stablecoin, announced on September 25 that Chief Financial Officer Jeremy Fox-Geen will resign by the end of December 2026. The same day, co-founder and board director P. Sean Neville also stepped down, shrinking Circle’s board from eight to seven directors.
The details of the departure
Fox-Geen joined Circle in May 2021, meaning he’s spent more than five years as the company’s top financial officer. During that stretch, he guided the firm through a $1.2 billion IPO on the New York Stock Exchange under the ticker CRCL.
He will remain in the CFO seat until December 31, 2026, or until a successor is formally appointed, whichever comes first. Circle has already engaged a leading executive search firm to identify his replacement.
Fox-Geen’s separation agreement includes a conditional cash payment of $1.05 million. His base salary was $500,000 per year, with eligibility for a 2026 incentive capped at 110% of that base.
Fox-Geen framed the timing as intentional, saying that leaving now feels right after achieving several key milestones.
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Neville’s quiet exit
Neville cited personal reasons for his resignation from the board, and Circle noted that the departure was not the result of any disagreement with the company on matters of operations, policies, or practices. With Neville gone, Circle’s board drops to seven directors.
What Fox-Geen built
When Fox-Geen arrived in 2021, Circle was a private company. Over the next five years, Fox-Geen helped build out Circle’s finance organization, navigated the company through the crypto winter of 2022-2023, and ultimately steered it toward the IPO that valued the firm at $1.2 billion. Circle’s previous attempt to go public via a SPAC deal fell apart in late 2022.
What this means for Circle and USDC
USDC is the second-largest stablecoin by market capitalization. US stablecoin legislation has been progressing through Congress, and Circle has positioned itself as the industry’s most regulation-friendly issuer.