: Discover Financial CEO Roger Hochschild resigns

Discover Financial Services DFS said late Monday that its board has accepted the resignation of Chief Executive Roger C. Hochschild, effective immediately. Hochschild will become an adviser to assist with the transition, the company said. The board has formed a special search committee to look for a permanent successor. It appointed board director John B. Owen as interim CEO, interim president, and interim president of the bank. Shares of Discover fell nearly 4% in the extended session Monday.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.