Discover Financial Services announced that the Discover Board of Directors and Roger Hochschild have agreed that Hochschild will step down as 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 President. These changes are effective immediately. About
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., 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. 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.