Discover Financial Services Announces Leadership Transition
14 Agosto 2023 - 11:23PM
Business Wire
Roger Hochschild Steps Down as Chief
Executive Officer and President
John Owen Appointed Interim CEO and
President
Discover Financial Services (NYSE: DFS) today announced that the
Discover Board of Directors and Roger Hochschild have agreed that
Hochschild will step down as Chief Executive Officer and President
and as a member of the Board. Hochschild will serve in an advisory
role at the Company through the end of the year to ensure a smooth
transition. John Owen, a member of the Board, has been appointed
Interim CEO and President. These changes are effective
immediately.
The Board has engaged a leading global executive search firm to
commence a process to identify a permanent CEO and President.
Tom Maheras, Chair of the Board, said, “The Board and Roger have
agreed that now is the right time to transition leadership, and we
thank Roger for his 25 years of service to the Company. The Board
is continuously focused on Discover reaching its full potential
across the business, including our commitment to enhancing
compliance, risk management and corporate governance. We will
continue to take actions to advance Discover’s strategic priorities
and generate high returns and capital.”
Owen said, “Since joining the Board in 2022, I have been
impressed by Discover’s dedicated employee base and all the
potential that lies ahead for the business. I look forward to
working alongside the management executive committee and Board
throughout this transition to continue driving organization-wide
excellence and sustainable, long-term performance.”
Hochschild said, “It has been a privilege to spend 25 years with
the people of Discover at this amazing company. I know that the
Company will enjoy continued success.”
About John Owen
John Owen joined the Discover Board of Directors in June 2022.
Owen brings 38 years of experience in consumer banking and
information technology that spans multiple industries, including
banking, insurance, airlines and the defense industry. He retired
from Regions Financial Corp., one of the nation’s largest
full-service providers of consumer and commercial banking, wealth
management and mortgage products and services, in March 2021, where
he had been Chief Operating Officer since 2018. Previously, Owen
served in various senior management roles at the bank, including
Head of Operations and Technology, Head of Consumer Services Group,
Head of Regional Banking group, and Head of Enterprise Services and
Consumer Banking.
Prior to joining Regions Financial, Owen was CEO of Assurant
Specialty Property, a Fortune 500 company based in Atlanta. Prior
to that, Owen was Senior Vice President of Global Systems
Development for Citicorp Credit Services, Chief Information Officer
of North American Operations for Arrow Electronics and Senior Vice
President of Technology for American Airlines. He began his career
in information systems with McDonnell-Douglas.
About Discover
Discover Financial Services (NYSE: DFS) is a digital banking and
payment services company with one of the most recognized brands in
U.S. financial services. Since its inception in 1986, the company
has become one of the largest card issuers in the United States.
The company issues the Discover® card, America's cash rewards
pioneer, and offers private student loans, personal loans, home
loans, checking and savings accounts and certificates of deposit
through its banking business. It operates the Discover Global
Network® comprised of Discover Network, with millions of merchants
and cash access locations; PULSE®, one of the nation's leading
ATM/debit networks; and Diners Club International®, a global
payments network with acceptance around the world. For more
information, visit www.discover.com/company.
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version on businesswire.com: https://www.businesswire.com/news/home/20230814686536/en/
Media Contact Matthew Towson 224-405-5649
matthewtowson@discover.com @Discover_News Investor Relations
Eric Wasserstrom 224-405-4555 investorrelations@discover.com
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