Bread Financial Holdings, Inc. announced that John J. Fawcett, a seasoned financial services executive, has joined the Company’s board as an independent director. Mr. Fawcett was elected at the Company’s Annual Meeting of Stockholders, held Tuesday, May 14, along with nominees Ralph J. Andretta, Roger H. Ballou, John C. Gerspach, Jr., Rajesh Natarajan, Joyce St. Clair, Timothy J. Theriault, Laurie A. Tucker and Sharen J. Turney, each of whom served as Bread Financial directors during the 2023-2024 term. In connection with his appointment, Mr. Fawcett will also serve as a member of the board’s Audit and Nominating & Corporate Governance committees.
Mr. Fawcett most recently served as executive vice president and chief financial officer of CIT Group, Inc. from April 2017 until its acquisition by First Citizens BancShares in January 2022.
“As part of our continuous board refreshment, we are pleased to welcome John Fawcett to our Board of Directors,” said Ralph Andretta, president and CEO, Bread Financial. “Mr. Fawcett brings more than 40 years of executive banking and financial services expertise in all aspects of finance, particularly with respect to accounting, international operations and business operations, and we know his extensive experience will benefit our company and the Board’s overall mix of expertise.”
After a 20-year career at Citigroup Inc. (1987-2007) that included roles as chief financial officer of the global transactions services and commercial markets business divisions, Mr. Fawcett held a variety of senior and executive leadership roles with increasing responsibility at both international and domestic financial institutions, including executive vice president and chief financial officer of Royal Bank of Scotland (RBS) Americas and Citizens Financial Group (CFG) from January 2008 to April 2015, where he helped lead the CFG initial public offering (Sept. 2014) and separation from RBS. From 1980 to 1987 he was a senior audit manager at KPMG where he specialized in banking and financial services audit engagements. Mr. Fawcett served as a member of the board of directors at Rabobank (Utrecht-Americas Holding Company), a Dutch multinational banking and financial service company, from 2016 to 2017 where he served as chair of the audit committee.
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