Synchrony Financial Names New Chief Accounting Officer By Investing.com

In a recent regulatory filing, Synchrony Financial (NYSE:) announced the appointment of a new Senior Vice President, Chief Accounting Officer, and Controller, Amy Tiliakos, effective August 1, 2024. Tiliakos will be succeeding David P. Melito, who is set to retire on July 2, 2024. Until Tiliakos assumes her role, Brian J. Wenzel, Sr., the current Executive Vice President and Chief Financial Officer, will serve as the interim principal accounting officer.

Amy Tiliakos, 42, is joining Synchrony Financial after a tenure at American Express Company (NYSE:), where she most recently served as the U.S. Regulatory Reporting Vice President. With a B.S. in Accounting from the University of Connecticut and her status as a Certified Public Accountant, Tiliakos brings a wealth of experience to her new role at Synchrony Financial.

The company stated that Tiliakos’s compensation package includes an annual base salary along with the eligibility for annual equity and non-equity incentive-based compensation under the company’s incentive plans. Moreover, she will receive specific sign-on awards to compensate for the forfeiture of benefits from her previous employer. Tiliakos has also entered into a standard indemnification agreement with Synchrony Financial.

In other recent news, Synchrony Financial has seen significant developments. The company approved a new long-term incentive plan for its executives and amended its corporate charter, following a stockholder vote. The plan, which replaces the previous 2014 plan, aims to motivate selected officers, employees, non-employee directors, and consultants by aligning their interests with the company’s growth and performance.

Synchrony Financial’s stockholders also approved an amendment to extend exculpation provisions to officers, providing certain protections against personal liability. The company’s robust first-quarter results and strategic acquisitions, including the sale of its Pets Best insurance business and the acquisition of Ally Lending’s point-of-sale financing portfolio, have been noteworthy.

Analysts from BofA Securities, Goldman Sachs, BTIG, and Keefe, Bruyette & Woods have provided varying assessments of the company. BofA Securities maintained its Neutral rating, while Goldman Sachs reaffirmed its Buy rating, both citing consistent performance and market expectations. BTIG initiated coverage with a Buy rating, emphasizing the company’s recent successes and a favorable macro environment. Keefe, Bruyette & Woods upgraded the company’s rating to Outperform. These are the recent developments for Synchrony Financial.

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