Discover executive chairman to depart post three months early

|About: Discover Financial Services (DFS)|By:, SA News Editor

Discover Financial Services (NYSE:DFS) discloses via SEC filing that Executive Chairman David Nelms will step down from that post on Dec. 31, and remain an executive officer until his March retirement.

Nelms in August had said he would step down from the CEO role effective Oct. 1, but would remain executive chairman until retirement. He'll now give up the chairman's post earlier than stated.

Lawrence Weinbach, lead director since 2009, has been elected to serve as non-executive chairman starting Jan. 1.

The board will shrink to 11 directors from the current 12.

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