Investing
Discover Financial CEO Roger Hochschild steps down
© Reuters.
(Reuters) – Digital banking firm Discover Financial Services (NYSE:) said on Monday Roger Hochschild would step down as chief executive officer and a member of the board.
The company, whose shares fell 5.5% in extended trading, also named board member John Owen as interim CEO and president, effective immediately.
In late July, Discover’s shares tanked after it disclosed a regulatory review over some incorrectly classified credit card accounts from around mid-2007. The company decided to pause share repurchases as well citing a pending internal review of compliance, risk management and corporate governance.
At the time, Discover also revealed that it had received a proposed consent order from the Federal Deposit Insurance Corporation in connection with consumer compliance that does not include the card product classification matter.
The stock has fallen nearly 16% since the disclosures and buyback pause, through previous close.
Read the full article here
-
Investing5 days ago
Hurricane Helene Hits Spruce Pine Mine, Quartz Used for Tech
-
Side Hustles6 days ago
5 Key Strategies for a Seamless Cloud Migration
-
Investing6 days ago
Israel stocks lower at close of trade; TA 35 down 0.23% By Investing.com
-
Side Hustles6 days ago
Why the Future of Cybersecurity Marketing Relies on Trust
-
Side Hustles5 days ago
VP Exec’s Top Tips for Negotiating and Relationship-Building
-
Passive Income6 days ago
Go Paperless with the PDF Reader Pro for $49.99
-
Side Hustles5 days ago
Why the Smallest Details Mean the Most in Marketing
-
Make Money5 days ago
The Top Employers and Opportunities for Part-Time Remote Jobs