Roger Hochschild steps down as President and CEO of Discover Financial Services, with John Owen appointed as interim CEO while a permanent replacement is sought.
Facts
- Roger Hochschild, President and CEO of Discover Financial Services, departs from his roles.
- He will also leave his position on the company’s board.
- Hochschild will stay in an advisory role until the end of 2023 to aid in the leadership transition.
- The decision is mutual, and the board expresses gratitude for Hochschild’s 25 years of service.
- The board remains committed to advancing Discover’s strategic goals and generating high returns.
- John Owen, a board member since June 2022, becomes interim CEO.
- Discover engages a global executive search firm to find a permanent replacement.
- John Owen’s background includes roles in consumer banking, IT, and leadership positions.
- He was COO of Regions Financial Corp and CEO of Assurant Specialty Property before joining Discover.
