Discover Financial shares dropped Tuesday after the Riverwoods-Ill.-based company said Roger Hochschild would step down as CEO effective immediately.
The stock finished the day down 9.4% at $92.96, recording its lowest close since May. It was the S&P 500’s worst performer.
Discover board member and ex-Regions Financial executive John Owen will serve as interim CEO and president, the company said after markets closed Monday. Discover will work with a global executive search firm to find a permanent replacement.
