LONDON - Funding Circle Holdings plc, a prominent SME lending platform in the UK, has announced the appointment of Ken Stannard as the new non-executive director and Chair Designate, effective from January 1, 2025. Stannard will take over as Chair after the Annual General Meeting in May 2025, succeeding Andrew Learoyd, who has been in the role since May 2016.
With nearly three decades of experience in credit, lending, and payments, Stannard's career includes senior positions at Lloyds Banking Group (LON:LLOY), Capital One (NYSE:COF), and American Express (NYSE:AXP). He is recognized for his role as CEO of Cabot (NYSE:CBT) Credit Management, where he led the company to become a leading credit management services firm in Europe. Stannard also serves as chair of Castle Trust Bank and holds several other non-executive positions.
On January 1, 2025, Stannard will join the Nomination and Remuneration Committees of Funding Circle and is set to chair the Nomination Committee upon assuming his role as Chair of the Board after the AGM.
The company also disclosed that Matthew King, an independent non-executive director, will depart from the Board on December 31, 2024.
Geeta Gopalan, Senior Independent (LON:IOG) Director at Funding Circle, expressed confidence in Stannard's ability to contribute to the company's strategic development and future success. She also extended gratitude to both Learoyd for his leadership and King for his service.
Stannard shared his enthusiasm about joining Funding Circle and driving the group's strategy to create value for stakeholders. Learoyd congratulated his successor and expressed optimism for Funding Circle's continued prosperity under Stannard's leadership.
The announcement noted that there are no additional details that need to be disclosed under Listing Rule 6.4.8R regarding Stannard's appointment. This transition is part of a planned succession process detailed in the company's 2023 Annual Report.
The information for this article is based on a press release statement from Funding Circle Holdings plc.
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