- Wednesday, October 16, 2024
Discover Financial Services has announced that Michael Rhodes has been chosen as the company's new Chief Executive Officer (CEO) and President. He will be taking over from interim CEO and President, John Owen, and assuming his new role on or before March 6 next year.
Rhodes has an impressive background in the banking industry, most recently serving as the Group Head of Canadian Personal Banking at TD Bank Group. Prior to that, he held senior leadership positions at Bank of America and MBNA America Bank. Discover Financial Services highlights Rhodes' extensive experience and expertise in innovation, technology, and shared services.
As part of his appointment, Rhodes will be receiving a base salary of $1 million.
In the meantime, John Owen will continue to fulfill his interim positions until Rhodes officially joins the company. After Rhodes assumes his role, Owen will shift his focus to serving on the company's board and the Discover Bank board.
Discover Financial Services is confident that Rhodes will bring a fresh perspective and strategic vision to the company, driving its continued success and growth.
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