In a regulatory filing on Wednesday, Discover (DFS) announced that its board accepted the resignation of Michael G. Rhodes from his positions as CEO and President of the company, a member of the board and a director and officer of Discover Bank, each effective April 1. Rhodes, who was not expected to have a long-term role at the combined company after completion of the company’s merger with Capital One (COF), informed the board that he has accepted a job offer at another financial institution. Also on Wednesday, Ally Financial (ALLY) announced that Rhodes will be its new CEO, starting at the company on April 29.
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