Navient Names David Yowan as President and CEO
May 15 2023 - 8:00AM
Navient (Nasdaq: NAVI), a leader in technology-enabled education
finance and business processing solutions, announced today that
David L. Yowan, a member of the Navient board of directors and
formerly corporate treasurer for American Express, has been
appointed president and CEO of the company. He succeeds Jack
Remondi in this role, effective May 15. Remondi, whose director
term expires as of the 2023 Annual Meeting of Shareholders on May
25, will not be renominated to the board at the Annual Meeting.
“With more than 40 years of finance industry
experience, and after six years on the Navient board, Dave Yowan
brings significant financial and strategic expertise and strong
leadership skills to his new role,” said Linda Mills, chair of the
board. “We are confident that his deep understanding of Navient’s
business operations, culture, challenges and opportunities, as well
as a proven track record in transformational change, will help
enable us to deliver exceptional results for our customers,
investors and other stakeholders.”
Mills continued, “We are grateful to Jack for his
years of service, his leadership over many significant transitions
and his commitment to Navient and its employees.”
Yowan said, “Navient has a proven history of
evolving its business to best support the financial success of its
customers. I am excited to work closely with the board and
management team to undertake an in-depth review of our businesses
and develop impactful strategies to deliver strong results for our
shareholders. We will remain focused on and accelerate our efforts
to simplify the company and make it more efficient, increase the
cash flows to shareholders from our legacy loan portfolios, and
identify ways to maximize the value of our growth businesses.”
About David L. YowanDavid L. Yowan
has been a director of Navient since April 2017. He has chaired the
Audit Committee and served on the Risk Committee. He was previously
Executive Vice President and Corporate Treasurer of American
Express. He brings over 40 years of experience in risk management,
balance sheet management, funding and liquidity, and in integrating
financial management with business strategy. During his time at
American Express, he played a key role in navigating the financial
crisis of 2008-2009. He led a significant transformation of the
company's funding profile and the transition of American Express
into a bank holding company. Prior to joining American Express in
1999, Yowan spent time at Citicorp in its global consumer banking
business and before that at the Ayco Corporation, now a part of
Goldman Sachs.
Yowan earned a bachelor’s degree in economics from
the College of William & Mary and a Master’s of Management from
the Kellogg School at Northwestern University.
About NavientNavient (Nasdaq:
NAVI) provides technology-enabled education finance and business
processing solutions that simplify complex programs and help
millions of people achieve success. Our customer-focused,
data-driven services deliver exceptional results for clients in
education, health care and government. Learn more at
Navient.com.
Contact:Media: Paul Hartwick,
302-283-4026, paul.hartwick@navient.comInvestors: Jen Earyes,
703-984-6801, jen.earyes@navient.com
Navient (NASDAQ:NAVI)
Historical Stock Chart
From Apr 2024 to May 2024
Navient (NASDAQ:NAVI)
Historical Stock Chart
From May 2023 to May 2024