FNG Exclusive… Søren Kyhl’s tenure as CEO of Copenhagen based neobank Lunar has apparently not lasted long. FNG has learned that Søren has stepped down from his role at Lunar, and is leaving the company.

Søren Kyhl spent more than 10 years at CFDs broker Saxo Bank, before leaving earlier this year in the wake of Saxo’s acquisition by Safra Group, and the installation of new management. He initially joined Saxo as Chief Operating Officer (COO) in 2016, and was named Deputy CEO of Saxo in 2018. Søren previously spent 13 years at Danish bank Danske Bank.

Upon leaving Saxo, Søren joined neobank Lunar as CEO this past June. Lunar was founded in 2015, received a European (Danish) banking license in 2019, and today claims more than 1 million users with 400+ employees in Denmark, Sweden, and Norway.

Søren posted the following note today on social media regarding his departure from Lunar.

After careful consideration, I have decided to resign as CEO and leave Lunar.

I took on the role with great respect for Lunar, for the people who have built the company, and for the position Lunar has established as a significant digital challenger in the Nordic banking market. That respect remains unchanged.

Over the past few months, I have worked to understand the business in depth, mapped the company’s opportunities, challenges and key priorities, set several initiatives in motion, and collaborated closely with the Board and leadership to define the strategic direction for Lunar’s next phase.

That work has brought the task ahead into sharper focus. It has also made it clear to me that Lunar’s next phase calls for a different leadership profile, and that my experience and strengths would be put to fuller use elsewhere. On that basis, I have decided to resign and leave Lunar. This was not the conclusion I expected when I took on the role, but it became clear as the work progressed.

I am pleased with what the leadership team and I have achieved together during this period, not least in setting Lunar’s most important priorities and the direction ahead.

Lunar has many talented people, a strong position and significant potential. I wish the entire team every success in the next phase.

For now, I’m looking forward to taking some time to reflect and explore what comes next.