Discover Financial (NYSE: DFS ) has announced that it is appointing Roger Hochschild as the new company CEO due to the fact that current boss David Nelmes is stepping down.
- Hochschild has been the company's president and chief operating officer since 2004.
- The new Discover CEO played an important role in the company's 2007 spin-off from Morgan Stanley (NYSE: MS ).
- Hochschild also worked alongside Nelms in helping to propel the company's acquisition of Citigroup's (NYSE: C ) Diner's Club International subsidiary.
- He was also key during the U.S. financial crisis in the late 2000s, helping the company go public, while also creating incredible shareholder value.
- Hochschild puts the customer and employee first in order to serve the community as much as possible in his time with the company.
- The new Discover CEO has been an integral part of the company for years, helping it achieve an average of 19% ROE over the last 20 years.
- Hochschild has plenty of industry experience, as well as strong business and customer wisdom that can help the company continue its success under a man who's' been mentored by Nelms and understands Discover's needs as well as anyone.
DFS stock is up 1.5% on Friday following the news of the new CEO appointment.
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