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Discover Stock Drops After CEO’s Exit

    Discover Financial shares dropped 9% Tuesday after the Riverwoods-Ill.-based company said Roger Hochschild would step down as CEO effective immediately. 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 said the board and Hochschild “have agreed that now is the right time to transition leadership” but did not include a reason.

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