Discover Financial Services (DFS) Announces CEO Resignation

On March 26, 2024, the Board of Directors (the “Board”) of Discover Financial Services (NYSE: DFS) accepted the resignation of Michael G. Rhodes from his positions as Chief Executive Officer and President of the Company, a member of the Board and a director and officer of Discover Bank (the “Bank”), each effective April 1, 2024 (the “Effective Date”). Mr. 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 Financial Corporation, informed the Board that he has accepted a job offer at another financial institution.

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