REG-Funding Circle Plc Funding Circle Plc: Notification of Board Change and Appointment of Chair Designate

Funding Circle HoldingsAnnouncement

18/12/2024 07:15

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   Funding Circle Plc (FCH)
   Funding Circle Plc: Notification of Board Change and Appointment of Chair
   Designate

   18-Dec-2024 / 07:00 GMT/BST

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   18 December 2024

    

                          Funding Circle Holdings plc

                                        

        Notification of Board Change and Appointment of Chair Designate

   Funding Circle Holdings plc ('Funding Circle' or 'the Company'), the  UK’s
   leading SME lending platform, announces the appointment of Ken Stannard as
   non-executive director  and Chair  Designate with  effect from  1  January
   2025.

   This announcement  follows the  Company’s disclosure  in its  2023  Annual
   Report that it would commence a  search process for a successor to  Andrew
   Learoyd who  has  held  the  Chair  role  since  May  2016.   Following  a
   transition period, Ken will succeed Andrew as Chair immediately  following
   the Annual General Meeting (AGM) in May 2025.

   Ken brings almost 30  years’ experience in  credit, lending and  payments,
   having held senior executive  roles at Lloyds  Banking Group, Capital  One
   and American Express. Most recently, as CEO of Cabot Credit Management, he
   grew the  company into  one  of the  largest  and most  profitable  credit
   management services  companies in  Europe. Amongst  other private  company
   non-executive roles,  Ken is  currently  chair of  Castle Trust  Bank,  an
   innovative provider of savings  accounts, specialist mortgages and  retail
   finance solutions. On stepping up to chair Funding Circle in May, Ken will
   have a total of four non-executive director roles.

   Ken will  be appointed  as a  member of  the Nomination  and  Remuneration
   Committees on  1 January  2025 and  will become  Chair of  the  Nomination
   Committee when he  assumes the role  of Chair of  the Board following  the
   AGM.

   The Company also  announces that Matthew  King, independent  non-executive
   director, will step down from the Board on 31 December 2024.

   Geeta Gopalan, Senior Independent Director, said. 

   "Following a  thorough selection  process  to identify  and select  a  new
   Chair, we are delighted to welcome Ken  to the Board at an exciting  point
   in Funding  Circle’s journey.  His experience  across a  range of  credit 
   businesses will be invaluable to  Funding Circle and its future  strategic
   development.

   On behalf of the Board,  I would like to  thank Andrew for his  leadership
   and significant contribution to Funding Circle. He has successfully guided
   the Company through challenging times and  will be handing the reins  over
   to Ken well positioned for the future. I would also like to thank  Matthew
   for everything he has done for Funding Circle, especially his contribution
   as chair of Funding Circle Ltd, and wish him all the best for the future."

   Ken Stannard said:

   "I am delighted to be joining Funding Circle and I look forward to working
   with the  Board  and the  executive  team  to drive  forward  the  Group's
   strategy and ensuring that  it continues to  create significant value  for
   all stakeholders."

   Andrew Learoyd commented:

   “It has been a  privilege for me  to serve as Chair  of Funding Circle.  I
   congratulate Ken on his appointment as my successor and am confident  that
   under his leadership of the Board, Funding Circle will continue to prosper
   and deliver value for shareholders.”

   There are no  further details  to be  disclosed pursuant  to Listing  Rule
   6.4.8R in connection with Ken Stannard’s appointment.

   For and on behalf of

   Funding Circle Holdings plc

    

   Lucy Vernall

   Company Secretary

    

                                     -Ends-

    

    

   Enquiries:

   Funding Circle:

   Investor Relations ir@fundingcircle.com
   Tony Nicol

   Media Relations  press@fundingcircle.com
   Angeli Everitt

   Headland Consultancy   +44 (0) 20 3805 4822
   Stephen Malthouse

   About Funding Circle:

   Funding Circle (LSE: FCH)  is the UK’s leading  SME lending platform.  Its
   mission is to build the place where small businesses get the funding  they
   need to win.   Funding Circle enables small businesses to access funding –
   offering  an   unrivalled  customer   experience  powered   by  data   and
   technology.  For institutional investors,  Funding Circle provides  access
   to an alternative asset  class in an underserved  market, with robust  and
   attractive returns.  Globally, Funding Circle has extended more than £16bn
   in credit to c.150,000 businesses.

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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:           GB00BG0TPX62
   Category Code:  BOA
   TIDM:           FCH
   LEI Code:       2138003EK6UAINBBUS19
   OAM Categories: 3.1. Additional regulated information required to be
                   disclosed under the laws of a Member State
   Sequence No.:   365746
   EQS News ID:    2053263


    
   End of Announcement EQS News Service

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