Discover CEO Resigns as Board Vows Renewed Compliance Focus
- John Owen, a board member, will take over on an interim basis
- Board chair says credit-card company is focused on compliance
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Discover Financial Services slumped after Chief Executive Officer Roger Hochschild said he will resign from his role and the credit-card giant vowed to focus on improving compliance and risk management.
John Owen, who has been a board member since last year and is a retired Regions Financial Corp. executive, will become interim CEO effective immediately, the firm said in a regulatory filing Monday. The board formed a special committee to find a permanent successor.