Discover Financial CEO Hochschild steps down, shares plunge 5%

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To ensure a smooth transition, Hochschild will serve in an advisory role at the company until the year’s end. John Owen, a member of the Board, has been appointed Interim CEO and President. These changes are effective immediately.

To identify a permanent successor for the positions of CEO and President, the Board has engaged a leading global executive search firm to commence a process.

By Davit Kirakosyan