Discover Financial Services announced Friday that Roger Hochschild, currently president and chief operating officer, will succeed David Nelms as CEO in October.
Hochschild, 53, who has been president of Discover since 2004, will retain that role and has been added to the Riverwoods-based company’s board.
“Roger's deep experience and proven results make him well suited to lead Discover to new heights of success,” Nelms said in a news release.
Nelms told the board he intends to retire in early 2019, and he plans to continue as executive chairman until then, according to the company. He has been CEO of Discover since 2004.
At Discover, Hochschild helped lead the...