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Synchrony Taps Doubles as CEO; Keane Named Chairwoman

Margaret Keane will step down in April and be replaced by Brian Doubles.
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Synchrony Financial  (SYF) - Get Synchrony Financial Report on Tuesday said that the consumer-financial-services company's president, Brian Doubles, would add the post of chief executive.

On April 1 Doubles will succeed the Stamford, Conn., company's current CEO, Margaret Keane, who will become executive chairwoman. Doubles also joins the board.

Synchrony's current chairman, Richard Hartnack, will retire from the board after six years.

Keane is Synchrony's first CEO, tapped for the post in 2014 when the company was spun out of General Electric  (GE) - Get General Electric Company Report

Doubles has been with the company for 11 years, serving as chief financial officer prior to and through the IPO in 2014 and as president since 2019.

"We have transformed the company and built a foundation for growth during the last several years, notably through our digital innovation and diversification of our portfolio," Doubles said. 

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"This has positioned us well to respond to the changing consumer landscape and the challenges of today's environment."

Synchrony credits Doubles for quickly shifting the company's priorities in 2020 in response to changing economic and work conditions. 

These shifts included accelerating digital initiatives and new products, championing new ways of working for employees, and further advancing Synchrony's diversity and inclusion efforts, the company said.

In addition, Jeffrey Naylor will become lead independent director. On Synchrony's board since 2014, Naylor has notable experience in retail and executive management, the company said.

"We weathered a challenging operating environment this past year, which is a testament to our best-in-class team," Keane said in a statement.

Shares of Synchrony Financial at last check were up 0.3% to $36.41.