Discover Financial Services Names John Owen to its Board of Directors

Rhea-AI Summary

Discover Financial Services (NYSE: DFS) has appointed John Owen, former COO of Regions Financial, to its Board of Directors. Owen brings nearly 40 years of banking experience and a strong background in technology and innovation. His tenure at Regions included overseeing significant fintech initiatives and enhancing customer experiences through strategic programs. Discover's CEO, Roger Hochschild, expressed confidence that Owen will bolster the company's digital banking and payment services. Owen will also serve on the Risk Oversight Committee, expanding Discover's Board to thirteen directors.

Positive

• John Owen's appointment brings extensive banking and technology experience to the board.
• Owen's background includes successful fintech initiatives that could enhance Discover's customer engagement.
• The board's expansion to thirteen directors may contribute to increased oversight and governance.

Negative

• Concerns may arise regarding continuity and integration of new leadership perspectives.
• Potential experience gaps in bridging the transition from Regions Financial to Discover's operational framework.

RIVERWOODS, Ill.--(BUSINESS WIRE)-- Discover Financial Services announced today that John Owen, former chief operating officer of Regions Financial, has joined the company’s Board of Directors.

John Owen (Photo: Business Wire)

In 2021, Owen retired from Regions Financial after a successful 14-year tenure with the company where he oversaw the bank’s technology transformation, cybersecurity, data and analytics and artificial intelligence (AI) efforts. He spearheaded “Simplify and Grow,” a strategic initiative focused on improving the customer experience, creating more effective processes and driving revenue growth. Owen’s track record of innovation for Regions includes his fintech partnership strategy, launching a new business focused on serving the underbanked population and the development of Regions’ mobile app

“John brings nearly four decades of experience in the banking industry and has a wealth of knowledge related to technology transformation to enhance the customer experience,” said Roger Hochschild, CEO and President of Discover. “I am confident that he will help Discover continue to succeed as a leading digital bank and payments company and look forward to John’s contributions as a member of our already strong Board.”

Prior to joining Regions Financial, Owen was chief executive officer of Assurant Specialty Property, a Fortune 500 company based in Atlanta. 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.

Owen was elected to Discover’s Board of Directors and appointed to the Board’s Risk Oversight Committee on June 6, 2022. Discover’s Board will now stand at thirteen directors.

About Discover

Discover Financial Services (NYSE: DFS) is a digital banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover^® card, America's cash rewards pioneer, and offers private student loans, personal loans, home loans, checking and savings accounts and certificates of deposit through its banking business. It operates the Discover Global Network^® comprised of Discover Network, with millions of merchants and cash access locations; PULSE^®, one of the nation's leading ATM/debit networks; and Diners Club International^®, a global payments network with acceptance around the world. For more information, visit www.discover.com/company.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220607006303/en/

Media Contact

Robert Weiss

224-405-6304

robertweiss@discover.com

@Discover_News

Investor Relations

Eric Wasserstrom

224-405-4555

investorrelations@discover.com

Source: Discover Financial Services

FAQ

Who is John Owen and what is his role at Discover Financial Services?

John Owen is the newly appointed member of Discover's Board of Directors, bringing extensive banking and technology expertise.

What experience does John Owen have in the banking industry?

Owen has nearly 40 years of experience, including his role as COO at Regions Financial and previous positions in major financial organizations.

When was John Owen appointed to Discover's Board of Directors?

John Owen was elected to the Board of Directors on June 6, 2022.

What impact might John Owen have on Discover Financial Services?

His experience in technology transformation and customer engagement strategies may enhance Discover's digital banking initiatives.

What is Discover Financial Services' stock symbol?

The stock symbol for Discover Financial Services is DFS.