Investors in Germany’s most valuable fintech N26 are seeking to remove the company’s founders and install its chair as co-chief executive, after financial watchdog BaFin identified fresh concerns.
Under an agreement being negotiated between the company’s backers and co-founders, its two co-chief executives would step down by the end of the year, with Valentin Stalf departing by September 1 and Max Tayenthal by December 31, according to people familiar with the matter.
Marcus Mosen, currently chair of the supervisory board, is being lined up as an interim co-chief executive, the people added.
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