Stablecoin company Circle Internet Group announced on Tuesday that C-level executive Kirk Koenigsbauer will be joining its board of directors, as per an official press release. Koenigsbauer will be joining the company’s risk and compensation committee.
The official statement says Koenigsbauer has extensive experience in the tech sector, currently holding the position of Chief Operating Officer in Microsoft’s Experiences and Devices segment, which oversees Co-Pilot and Microsoft 365.
Koenigsbauer serves as a board director for Thomson Reuters as well, a role he has held since 2020. He has also previously worked in roles at Accenture and Amazon.com.
“I’m honored to join Circle’s Board at such an important moment for digital asset infrastructure,” said Koenigsbauer.
“Circle is playing a foundational role in building a modern and trusted global financial system. I look forward to working with Jeremy and team to continue scaling the company while maintaining the highest standards of operational and risk excellence.”
The update follows Circle’s upbeat Q4 earnings, which showed considerable growth in revenues, but an annual operating loss due to an increase in stock compensation expenses.
At the time of writing, Circle Internet Group’s shares were trading at $132.31, up by 5.15%. Its main offering, the USDC stablecoin, has a market capitalization of roughly $80 billion and is the second-largest stablecoin in terms of adoption behind Tether.
“Kirk has helped shape how the world builds, secures, and uses some of the most successful platforms and services,” said Circle’s CEO and co-founder, Jeremy Allaire.
“His experience scaling mission-critical software platforms, building global security businesses, and driving operational excellence will be invaluable as Circle continues to strengthen its risk management, governance, and global enterprise capabilities.”