Synchrony has announced that Margaret Keane, the Stamford-based company”™s CEO, is transitioning to the role of executive chairwoman of the board of directors, a new position. Brian Doubles, the company”™s president, will take on the CEO role effective April 1.
Keane had served as Synchrony”™s president and CEO following its separation from General Electric and initial public offering in 2014. Doubles, who will also be joining the board of directors, became Synchrony”™s president in May 2019 after serving as executive vice president and chief financial officer from 2014 to 2019. Earlier in his career, he was chief financing officer of GE”™s North American retail finance business.
“I am incredibly proud of the great business, culture and company we have built at Synchrony,” Keane said in a press statement. “We weathered a challenging operating environment this past year, which is a testament to our best-in-class team. With Synchrony in a position of strength, now is the right time to begin this planned leadership transition. Brian has helped build this company every step of the way and is the natural successor to advance our progress and lead Synchrony through the next stage of our journey.”
The company also announced the retirement of Rick Hartnack as nonexecutive chairman of the board. He was founding chairman of the board since the company”™s IPO. Jeffrey Naylor, former CEO of TJX Cos. and a board member since 2014, will become lead independent director of the board.
