Why Discover Financial Services Shares Are Sliding Today
Portfolio Pulse from Lekha Gupta
Discover Financial Services (NYSE:DFS) shares are down by around 6% following the announcement of CEO and President Roger C. Hochschild's resignation. John Owen, a member of the Discover Board since June 2022, will serve as Interim CEO and President from August 14. Hochschild will remain in an advisory role until the end of the year. J. Michael Shepherd has also joined the company's Board of Directors.
August 15, 2023 | 10:20 am
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Discover Financial Services' stock price is down following the announcement of CEO Roger C. Hochschild's resignation. The company's shares are expected to be volatile in the short term.
CEO transitions often lead to uncertainty and volatility in a company's stock price. The market is reacting to the news of Roger C. Hochschild's resignation, leading to a drop in DFS's share price.
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