Synchrony’s Margaret Keane Moves To Exec Chair Of Board; Brian Doubles Now CEO

Consumer financial services firm Synchrony has announced several leadership changes as CEO Margaret Keane migrates from her role to executive chair of the board of directors.

Brian Doubles, president of Synchrony, was unanimously elected by the company’s board to assume a multifaceted role as president, CEO and board member, effective April 1.

Keane said in a press release on Tuesday (Jan. 12) that despite the difficulties wrought by the COVID-19 pandemic, she is gratified by the “great business, culture and company” she and the Synchrony team developed. 

She added that weathering 2020 “is a testament to our best-in-class team,” and that with the company in a solid position, it was the perfect time to make the planned leadership changes. 

“Brian has helped build this company every step of the way and is the natural successor to advance our progress and lead Synchrony through the next stage of our journey,” she said.

As executive chair, Keane will work closely with Doubles and the rest of the company’s leadership team, and will continue consulting with key stakeholders. She said that she has worked with Doubles for more than 10 years, advancing such key milestones as filing for an initial public offering (IPO) in 2014.

“As a close partner, Brian was integral in developing and executing our strategy, as well as building our values and culture,” Keane said, calling her role at the company “the privilege of my career to lead the 16,500 dedicated employees.” 

Doubles has been with Synchrony for 11 years, and was named president in 2019 after serving as chief financial officer. Last year, he was tasked with overhauling the company’s priorities in light of the worldwide pandemic and the associated shift in the economy. He stepped up the development of digital initiatives and promoted a new way of working for employees.

Doubles called Keane “a truly extraordinary leader” who built “a differentiated and agile company.” He added that the company would not be what it is today had it not been for her leadership. 

Keane warned in July that credit card payments could plummet after stimulus funds are exhausted and forbearance ends. Credit card debt dropped in the first months of the pandemic, as did the number of delinquent credit card borrowers.