on Funding Circle Plc (isin : GB00BG0TPX62)
Funding Circle Announces Streamlining Efforts and Board Changes
Funding Circle Holdings plc has announced significant steps towards simplification and profitability, aligning with its goals stated in March. The company plans cost efficiency measures expected to save around £15 million annually by 2025. This move will reduce approximately 120 roles, with £5 million in implementation costs recognized in 2024.
CFO Oliver White will step down after the first-half results in September, with Tony Nicol, currently Director of Finance and Investor Relations, succeeding him. CEO Lisa Jacobs expressed gratitude to departing employees and Oliver White for his dedication. She welcomes Tony Nicol to his new role as CFO.
The company remains on track to meet its full-year guidance, with H1 2024 results scheduled for September 5, 2024. Discussions regarding a potential transaction in the US are ongoing, with updates to follow.
R. E.
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