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Stock impact report

Discover Financial says CEO Michael Rhodes will step down [Reuters]

Capital One Financial Corporation (COF) 
Last capital one financial corporation earnings: 4/23 04:05 pm Check Earnings Report
Company Research Source: Reuters
He will serve as an advisor to the interim CEO J. Michael Shepherd through April 12, 2024. Shepherd, who was appointed on March 26, will continue to serve as a director, but will resign as a member of the board's risk oversight committee. Rhodes, who was not expected to have a long-term role after the company completed its merger with Capital One Financial (COF.N) , opens new tab , informed the board he has accepted a job offer at another financial institution, Discover said in the filing. Last month, Warren Buffett-backed U.S. consumer bank Capital One and U.S. credit card issuer Discover unveiled plans of a $35.3 billion deal to create a global payments giant that is expected to receive intense antitrust scrutiny. Separately, Ally Financial (ALLY.N) , opens new tab said on Wednesday it has appointed Michael Rhodes as its new CEO. Get a look at the day ahead in U.S. and global markets with the Morning Bid U.S. newsletter. Sign up here. Reporting by Mehnaz Yasmin in Benga Show less Read more
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