Funding Circle Holdings (LSE:FCH), the UK small business lending platform, said chief executive Lisa Jacobs has told the board of her intention to step down no later than September 2027.
Jacobs joined the company in 2012 and became CEO in January 2022, and will remain in role during a formal search for her successor.
Chair Ken Stannard said the business has extended more than £18 billion in credit to over 135,000 small and medium-sized enterprises since Jacobs joined, and credited her with delivering the transformation plan set out in March 2024 to build a simpler, higher-growth and more profitable company.
Jacobs said the business is "in the best position that it has ever been", pointing to strong growth and profitability as grounds for starting the handover process now.
"I remain fully committed to delivering against our attractive growth plans and, when the time comes, ensuring a smooth transition to my successor", she said.
The board said it will provide a further update on the succession process in due course.
News Intelligence what this means for the company
Funding Circle CEO Lisa Jacobs announced her intention to step down by September 2027, with the board now conducting a formal succession search while she remains in post. The timing reflects confidence in the business: Chair Ken Stannard noted that stronger-than-year-ago first-half results included an outsized improvement in PBT and increased Term Loans cash generation, and Jacobs herself cited strong growth and profitability as grounds for beginning the handover now rather than later.
A planned CEO transition 16+ months out poses execution risk during a period when the company is pursuing growth in higher-margin products (FlexiPay and Card), but the board's framing—that the business is now stable enough to absorb a leadership change—suggests confidence that the transformation plan announced in March 2024 is on track. Investors will watch whether the succession process attracts internal or external candidates and whether near-term financial momentum persists.
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