Funding Circle’s board changes have begun, with three directors standing down and two new board members being appointed.
Earlier this year, Cath Keers, Bob Steel and Ed Wray announced that they would not seek re-election at the company’s annual general meeting on 19 May.
It is believed that the trio stood down from the board for a number of different reasons, ranging from the tenure they’ve served to external roles that they have been offered.
Matthew King has joined the board as a non-executive director, replacing Wray.
Helen Beck will take Keers’ seat on the board when she officially joins the company on 1 June. She will also chair the company’s remuneration committee.
Steel has retired, and will not be replaced on the board.
King currently chairs the board of Funding Circle Ltd – a subsidiary of Funding Circle Holdings. He is a director of Prodigy Finance, a fintech lender which offers peer-to-peer funded student healthcare loans. He is also chair of mineral development company Savannah Resources.
During the company’s AGM, shareholders re-elected all members of the Funding Circle board. Geeta Gopalan – one of the company’s re-elected directors – also accepted the role of senior independent director.