Circle Internet Group will part ways with Chief Financial Officer Jeremy Fox-Geen by Dec. 31, 2026, according to a Sept. 25 filing with the SEC, and has hired an executive search firm to identify his successor.

Fox-Geen will retain the CFO title through year-end or until a replacement starts, the company said, and will remain on the payroll through Dec. 31 to support the handover. Circle stated explicitly that the departure stems from no disagreement over its operations, policies or practices.

"Having achieved many milestones, it is now the right time for me to step down and take a break before my next chapter," Fox-Geen said in the company's announcement.

What does the exit agreement cover?

The transition filings detail a separation package with several cash and equity components:

• $1.05 million paid in equal monthly installments over 12 months after resignation, contingent on compliance with restrictive covenants and execution of a release
• Continued payment of his $500,000 annualized base salary through the employment end-date
• Retention of a 2026 incentive award with a 110%-of-salary target, subject to actual performance
• Two additional months of restricted-stock-unit vesting
• A 12-month extension on the exercise window for outstanding non-qualified stock options

The agreement imposes a 12-month post-employment non-compete and a 24-month employee non-solicitation covenant on Fox-Geen.

How did Fox-Geen shape Circle's finances?

Fox-Geen joined Circle in May 2021 from a background spanning capital markets and financial planning roles. The company credited him with building its finance organization and guiding it through the $1.2 billion initial public offering on the New York Stock Exchange in June 2025.

His exit lands one quarter after Circle posted second-quarter 2026 results: revenue and reserve income of $701 million, a 7% increase year-over-year, and net income from continuing operations of $48 million. USDC circulation reached $73.3 billion at quarter-end, up 19% from a year earlier, anchoring the issuer's primary revenue stream.

What changed at the board level?

In the same filing, Circle disclosed that co-founder P. Sean Neville resigned from the board effective Sept. 25, citing personal reasons. The company characterized the move as part of an orderly refresh process and stated it did not reflect any disagreement over operations, policies or practices. His departure reduced the board from eight directors to seven.

Neville co-founded what became Circle in 2013 and had continued to serve on the board after the business reorganized around the USDC stablecoin.

What happens next?

Circle's named search firm has not yet been identified publicly, and no internal candidate has been signaled. The company will need to close the hire, or extend an interim arrangement, before Fox-Geen's Dec. 31 separation to avoid a prolonged vacancy atop the finance function during a period when the U.S. stablecoin regulatory framework and reserve-composition disclosures are evolving. Failure to seat a permanent CFO before the start of fiscal 2027 reporting could complicate certification cycles around USDC attestation work and the company's quarterly cadence with the SEC.