John J. Fawcett Appointed to Bread Financial™’s Board of Directors
Bread Financial announced the appointment of John J. Fawcett to its Board of Directors, effective May 14, 2024. Fawcett, a seasoned financial services executive, brings over 40 years of expertise in accounting, international, and business operations. He will serve on the Audit and Nominating & Corporate Governance committees. Fawcett's extensive background includes roles as CFO at CIT Group, Royal Bank of Scotland Americas, and Citizens Financial Group. His addition is part of Bread Financial's ongoing board refreshment strategy.
- John J. Fawcett brings over 40 years of financial services expertise.
- Fawcett has a strong background in executive roles, including CFO positions at CIT Group and Royal Bank of Scotland Americas.
- His experience includes leading the Citizens Financial Group IPO and separation from Royal Bank of Scotland.
- Fawcett's appointment is part of a continuous board refreshment strategy aimed at bringing diverse expertise to Bread Financial.
- The appointment strengthens the board's overall mix of expertise in accounting, international operations, and business operations.
- The press release does not mention any immediate financial benefits or performance improvements expected from this appointment.
- John Fawcett's extensive experience could mean he commands a high compensation package, potentially increasing company expenses.
- No specific strategic initiatives or goals tied to Fawcett's appointment were outlined, making it unclear how his expertise will be directly leveraged for growth or profitability.
COLUMBUS, Ohio, May 21, 2024 (GLOBE NEWSWIRE) -- Bread Financial Holdings, Inc. (NYSE: BFH) today announced that John J. Fawcett, a seasoned financial services executive, has joined the Company’s board as an independent director. Mr. Fawcett was elected at the Company's Annual Meeting of Stockholders, held Tuesday, May 14, along with nominees Ralph J. Andretta, Roger H. Ballou, John C. Gerspach, Jr., Rajesh Natarajan, Joyce St. Clair, Timothy J. Theriault, Laurie A. Tucker and Sharen J. Turney, each of whom served as Bread Financial directors during the 2023-2024 term. In connection with his appointment, Mr. Fawcett will also serve as a member of the board’s Audit and Nominating & Corporate Governance committees.
Mr. Fawcett most recently served as executive vice president and chief financial officer of CIT Group, Inc. from April 2017 until its acquisition by First Citizens BancShares in January 2022.
“As part of our continuous board refreshment, we are pleased to welcome John Fawcett to our Board of Directors,” said Ralph Andretta, president and CEO, Bread Financial. “Mr. Fawcett brings more than 40 years of executive banking and financial services expertise in all aspects of finance, particularly with respect to accounting, international operations and business operations, and we know his extensive experience will benefit our company and the Board’s overall mix of expertise.”
After a 20-year career at Citigroup Inc. (1987-2007) that included roles as chief financial officer of the global transactions services and commercial markets business divisions, Mr. Fawcett held a variety of senior and executive leadership roles with increasing responsibility at both international and domestic financial institutions, including executive vice president and chief financial officer of Royal Bank of Scotland (RBS) Americas and Citizens Financial Group (CFG) from January 2008 to April 2015, where he helped lead the CFG initial public offering (Sept. 2014) and separation from RBS. From 1980 to 1987 he was a senior audit manager at KPMG where he specialized in banking and financial services audit engagements. Mr. Fawcett served as a member of the board of directors at Rabobank (Utrecht-Americas Holding Company), a Dutch multinational banking and financial service company, from 2016 to 2017 where he served as chair of the audit committee.
Mr. Fawcett holds a bachelor’s degree in accounting and an MBA from St. John’s University.
Following Mr. Fawcett’s appointment, Bread Financial’s board now consists of nine directors.
About Bread Financial™
Bread Financial™ (NYSE: BFH) is a tech-forward financial services company providing simple, personalized payment, lending and saving solutions. The company creates opportunities for its customers and partners through digitally enabled choices that offer ease, empowerment, financial flexibility and exceptional customer experiences. Driven by a digital-first approach, data insights and white-label technology, Bread Financial delivers growth for its partners through a comprehensive suite of payment solutions that includes private label and co-brand credit cards and Bread Pay™ buy now, pay later products. Bread Financial also offers direct-to-consumer products that give customers more access, choice and freedom through its branded Bread Cashback™ American Express® Credit Card and Bread Savings™ products.
Headquartered in Columbus, Ohio, Bread Financial is powered by its approximately 7,000 global associates and is committed to sustainable business practices. To learn more about Bread Financial, visit breadfinancial.com or follow us on Facebook, LinkedIn, Twitter/X and Instagram.
Contacts
Brian Vereb – Investor Relations
Brian.Vereb@BreadFinancial.com
Susan Haugen – Investor Relations
Susan.Haugen@BreadFinancial.com
Rachel Stultz – Media
Rachel.Stultz@BreadFinancial.com
FAQ
Who was appointed to Bread Financial's Board of Directors in May 2024?
What experience does John J. Fawcett bring to Bread Financial?
When was John J. Fawcett elected to Bread Financial's Board of Directors?
What committees will John J. Fawcett serve on at Bread Financial?
What is the stock symbol for Bread Financial?
