Synchrony reorganizes under the new CEO
Credit card issuer Synchrony Financial has started a reorganization, moving from three sales divisions to five, in the first big move from new CEO Brian Doubles.
As part of the revamped structure, the Stamford, Connecticut-based company will offer consumer credit through five platforms: digital, health and wellness, home and auto, diverse and value and lifestyle.
This structure is different from the three previous divisions of Synchrony: Retail Card, which offered credit cards through partnerships with Lowe’s, Amazon and Sam’s Club; Payments Solutions, which focused on major consumer purchases such as furniture; and CareCredit, which offered cards for sanitary and veterinary procedures.
Doubles said in a press release that the move will help “accelerate our strategy by aligning our organization for faster growth and execution.” He took over CEO in April after spending two years as chairman and 10 years as chief financial officer. His predecessor, Margaret Keane, is now Executive Chairman of the Synchrony Board of Directors.
Curtis Howse, who previously headed Payments Solutions, will oversee the new Home & Auto section, according to the company. Beto Casellas, who led CareCredit, will oversee the new Health and Wellness division, and Bart Schaller, Marketing Director of Synchrony, will lead the digital platform. These three executives will report to Doubles.
Maran Nalluswami, who is senior vice president and general manager of Sam’s Club portfolio, will lead Diversified & Value, Synchrony said. Darrell Owens, senior vice president and general manager of the TJX portfolio which includes Marshalls and TJ Maxx, will lead the Lifestyle division. The heads of these two divisions will report to Tom Quindlen, who headed the Retail Card group.
Synchrony also announced the creation of a new growth organization that will combine the company’s marketing, data, analytics, customer experience and product development groups. Michael Bopp, who was previously Director of Customer Engagement, will lead this unit under the new title of Director of Growth.
The company with $ 95.9 billion in assets also brings together its Technology and Operations teams, which will be led by Carol Juel, whose new title will be Chief Technology and Operations Officer. She was previously the Information Director.