Discover Financial Services’ CEO and president Roger Hochschild steps down
Discover Financial Services, a digital banking and payment services company headquartered in Illinois, USA, has announced that its president and CEO Roger Hochschild is to step down with immediate effect.
Roger Hochschild departs Discover Financial Services
Hochschild will also step down from his position as a member of the company’s board. However, it’s expected that he will remain at the company in an advisory role until the end of 2023 to oversee the transition of leadership.
“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,” Tom Maheras, chair of the board, says in a statement.
Maheras adds that the board is “continuously focused on Discover reaching its full potential across the business” and that it will “continue to take actions to advance Discover’s strategic priorities and generate high returns and capital”.
With Hochschild’s departure, the company has confirmed the appointment of John Owen, who joined its board of directors in June 2022, as interim CEO and president while it engages with “a leading global executive search firm” to source a more permanent replacement.
Prior to joining the board, Owen served in various high-profile roles across consumer banking and information technology, including as COO for Regions Financial Corp, a full-service provider of consumer and commercial banking, wealth management and mortgage products and services. He was also previously CEO of Assurant Specialty Property, a Fortune 500 company based in Atlanta.
