Discover Financial Services (DFS) has provided an announcement.
Discover Financial Services announced the resignation of CEO and President Michael G. Rhodes, effective April 1, 2024, ahead of a merger with Capital One. Rhodes will work as an advisor until April 12, forfeiting unvested equity and repaying certain cash payments. J. Michael Shepherd steps in as Interim CEO and President, bringing extensive banking and legal expertise from previous leadership roles. Under his interim agreement, Shepherd will receive a base salary and a substantial restricted stock unit award, with conditions tied to the merger’s completion or a one-year tenure.
Learn more about DFS stock on TipRanks’ Stock Analysis page.
