Fintech N26 to get new Co-CEO – according to media report

According to media reports, N26 founders Valentin Stalf and Maximilian Tayenthal are set to step down this year. An interim CEO has already been appointed.

There's trouble at N26: Last week, Manager Magazin reported that investors are demanding that founders Valentin Stalf and Maximilian Tayenthal be removed from day-to-day operations . This is due, on the one hand, to ongoing problems with BaFin and, on the other, to disappointing business developments.

Things have been complicated between N26 and BaFin (German Federal Financial Supervisory Authority). The two have been in constant conflict since 2018. You can find an overview of the events here .

These demands could now become reality. According to the Financial Times, the two founders are to step down as CEOs: Stalf on September 1st, and Tayenthal a few months later on December 31st. The Financial Times cites insiders familiar with the matter. Marcus Mosen, currently chairman of N26's supervisory board, is set to take over the role of CEO on an interim basis.

According to the Financial Times, the deal includes, among other things, that the founders Stalf and Tayenthal will move to the supervisory board and give up their special voting rights – as a compromise, since investors are accepting smaller returns than promised.

People familiar with the matter believe it's possible the deal could be completed soon. However, the Financial Times cites other parties who emphasize that the decision is still pending.

According to the Financial Times, Mosen declined to comment on his potential role as interim CEO. N26 told the Financial Times that they did not want to comment on speculation.