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Starling Bank Founder Anne Boden Steps Down as CEO to Avoid Conflict of Interest; Reports Doubled Revenues

The Guardian | Kalyeena Makortoff  | May 25, 2023

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Image: Starling Bank/PR

Anne Boden, the founder and CEO of Starling Bank, has made the surprising decision to step down as chief executive in order to avoid potential conflicts of interest as a major shareholder.

  • She believes that the roles and priorities of a shareholder and a CEO ultimately differ and wants to ensure there is no conflict.
  • Boden, who launched Starling Bank in 2014, will relinquish her executive role next month but remain on the board as a non-executive director. She initiated discussions about her departure six months ago, and her decision was not prompted by UK regulators or the board.

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  • Starling Bank, which has 3.6 million customers, recently announced that its revenues for the year ending March 2023 have more than doubled to £453m, leading to its second consecutive year of annual profits.
  • The bank will be temporarily led by its chief operating officer while searching for a permanent replacement for Boden.

“Now that we have grown from being an aspiring challenger to an established bank, it is clear the roles and priorities of a CEO and a large shareholder ultimately differ and require distinct approaches,” she said. “As Starling continues to evolve and grow, separating my two roles is in the bank’s best interests.”

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