Synchrony Financial
Synchrony Financial Appoints Daniel Colao to Board of Directors
Summary
Synchrony Financial announced on September 12, 2024, the appointment of Daniel Colao to its Board of Directors, effective October 1, 2024. Colao, a retired financial services executive with over 30 years of industry experience, will serve on the Risk and Technology Committees. He will receive an annual compensation of $265,000, with additional cash compensation for his committee service. Colao previously served on Synchrony's Board from February 2014 to November 2015 and most recently was CFO and Executive Advisor at GE Capital until his retirement in June 2021.
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About Synchrony Financial
Synchrony Financial is a consumer financial services company primarily focused on providing private-label credit cards. It serves as a key partner to a variety of retailers, manufacturers, and healthcare providers, enabling them to offer customized credit solutions to their customers. Synchrony Financial's products extend beyond credit cards to include promotional financing, installment lending, and loyalty programs, often aimed at enhancing customer retention and satisfaction for its partners. The company plays a significant role in industries such as retail, health and wellness, automotive, and home, where it provides targeted financial solutions that are integrated into the point of sale. This integration makes Synchrony a crucial player in consumer finance, as it supports both businesses and consumers through flexible payment options. Headquartered in Stamford, Connecticut, Synchrony Financial was established in 2003. It is a major issuer of private-label credit cards in the United States, contributing to the retail sector's growth by empowering consumers to make purchases and manage payments over time. The company's financial products are influential in promoting accessible credit, supporting economic activity, and fostering customer loyalty within numerous commercial sectors.
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