SYNCHRONY FINANCIAL (NYSE:SYF) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 11, 2017, Glenn Marino notified Synchrony Financial (the “Company”) that he has decided to retire from the position of Executive Vice President, Chief Executive Officer of Payment Solutions and Chief Commercial Officer of the Company, effective January 1, 2018. Mr. Marino will continue to work for the Company through mid-2018 to assist in the transition to his successor.
Mr. Marino will retire with over 20 years of outstanding service to the Company, leading significant expansion and growth in the Company’s Payment Solutions sales platform and playing a key role in the Company’s transformation into an independent public company. Since joining General Electric Company (“GE”) in 1996, Mr. Marino built and led a team that drove substantial operational and financial growth, increasing revenue, executing key partner programs and developing important new products and digital marketing capabilities.
On January 1, 2018, Neeraj Mehta will become Executive Vice President, Chief Executive Officer of Payment Solutions and Chief Commercial Officer of the Company. Mr. Mehta currently serves as Executive Vice President, Business Strategy and Development, overseeing corporate strategy, payment innovation, strategic partnerships, Synchrony Ventures and acquisitions. Mr. Mehta joined GE in 1996 and held numerous executive roles at GE Capital, including President and CEO of GE Capital, Commercial Distribution Finance.
About SYNCHRONY FINANCIAL (NYSE:SYF)
Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit. It offers its credit products through its subsidiary, Synchrony Bank (the Bank). Through the Bank, it offers a range of deposit products insured by the Federal Deposit Insurance Corporation (FDIC), including certificates of deposit, individual retirement accounts (IRAs), money market accounts and savings accounts. The Company offers three types of credit products: credit cards, commercial credit products and consumer installment loans. The Company also offers a debt cancellation product. It offers two types of credit cards: private label credit cards and Dual Cards.
