- Push-out Score determined
- After about seven years in the position
- Praise and thanks for Keane
- Brian Doubles taking over
- Keane will remain as Executive Chair at Synchrony
- Keane made a lengthy statement and said 263 words
(exechange) — Stamford, Connecticut, January 12, 2021 — Margaret Keane, chief executive of Synchrony, leaves her position. As announced by Synchrony Financial in a news release on Tuesday, January 12, 2021, Margaret M. Keane leaves her post as chief executive officer of the largest U.S. provider of store credit cards after about seven years in the role, effective April 1, 2021.
Margaret Keane’s duties as CEO will be taken over by Brian D. Doubles, currently President of Synchrony Financial.
“Now is the right time”
Margaret Keane’s departure from the CEO post is explained as follows. Keane said: “With Synchrony in a position of strength, now is the right time to begin this planned leadership transition.”
Keane will remain as Executive Chair at Synchrony
“Margaret Keane, Chief Executive Officer, will transition to the role of Executive Chair of the Board of Directors of Synchrony,” Synchrony said.
Share price decline since January 2018
The announcement follows a decline in Synchrony Financial’s share price of 7% since January 2018.
In the position of CEO since 2014
Margaret Keane became CEO of the Company in 2014.
As Executive Chair, Keane will lead the company’s Board of Directors and continue to work closely with Doubles and the Synchrony leadership team.
She will also continue to represent the company and interact with key stakeholders to help advance Synchrony’s mission.
Keane has been the Company’s CEO since February 2014, the Company’s President from February 2014 to May 2019 and previously served as CEO and President of GE’s North American retail finance business since April 2011.
She has also been a member of the Board since 2013 and a member of the board of directors of Synchrony Bank (the “Bank”) since 2009.
From June 2004 to April 2011, Keane served as President and CEO of the Retail Card platform of GE’s North American retail finance business.
From January 2002 to May 2004, Keane served as Senior Vice President of Operations of the Retail Card platform of GE’s North American retail finance business.
From January 2000 to December 2001, Keane served as Chief Quality Leader of GE Capital Corporation (“GECC”).
From October 1999 to December 1999, Keane served as Shared Services Leader for GECC’s Mid-Market Leasing Businesses.
Prior to that, Keane served in various operations and quality leadership roles at GECC and Citibank. Keane serves on the board of directors of The Allstate Corporation, a publicly-held personal lines insurer.
Keane received a B.A. in Government and Politics and an M.B.A. from St. John’s University.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Margaret Keane’s move on a scale of 0 to 10.
exechange reached out to Synchrony and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 3.2021 ($).