Discover Financial Services has announced the appointment of Michael G. Rhodes as the company’s new chief executive officer. Rhodes, who has more than two decades of experience in consumer banking, finance and technology leadership, will officially assume his role on or before March 6, 2024. He will also serve as president of Discover Bank. In the meantime, John Owen, who has been serving as interim CEO and president since August 2023, will continue in his role until Rhodes officially joins the company.
Rhodes has an extensive background in the financial industry, having most recently served as the group head of Canadian personal banking at TD Bank Group. He has also held various senior leadership positions at Bank of America and MBNA America Bank. Tom Maheras, Chair of Discover’s board of directors, expressed confidence in Rhodes’ ability to lead the company and help it achieve its strategic and financial goals. Rhodes himself stated that he looks forward to working with the management team and employees to deliver a great customer experience and drive long-term financial performance.
Discover Financial Services is a digital banking and payment services company that operates the Discover Global Network, which includes Discover Network, PULSE and Diners Club International. The company issues the Discover card and offers various financial products and services, including private student loans, personal loans, home loans as well as checking and savings accounts.
