Valentin Stalf will transition from co-CEO to the supervisory board after investors pressed for leadership change following BaFin’s regulatory scrutiny; Max Tayenthal remains, with supervisory chair Marcus Mosen set to serve as interim CEO.
Highlights
Leadership Transition: Valentin Stalf is stepping down as co-CEO of N26 and will join the supervisory board after a six-month transition. Max Tayenthal continues in his CEO role for now.
Investor Pressure & Regulatory Fallout: The move follows ongoing tensions between N26’s founders and investors, sparked by renewed criticism from BaFin over weak risk controls. A supervisory board chair, Marcus Mosen, is being positioned as interim CEO.
Governance Deal Negotiation: A deal under discussion includes Stalf and Tayenthal relinquishing special voting rights in exchange for supervisory board nominations, as N26 seeks to resolve governance issues and restore investor confidence.
Summary
Valentin Stalf, co-founder and co-CEO of Germany’s leading digital bank N26, has announced that he will exit his operational leadership role and join the supervisory board after a six-month transition. His departure follows growing friction with investors concerned about regulatory failings flagged by Germany’s financial watchdog, BaFin. Meanwhile, Max Tayenthal remains as CEO, and supervisory board chair Marcus Mosen is expected to take over as interim CEO.
This shift is part of broader negotiations in which the co-founders may forgo their special voting rights in exchange for board seats—a strategic move to address governance concerns and rebuild investor trust.
