WASHINGTON (dpa-AFX) - Sallie Mae (SLM), formally SLM Corp., announced Thursday that Raymond Quinlan will step down from his role as Chief Executive Officer, effective April 20, 2020, after leading Sallie Mae for six years.
Jonathan Witter, currently Chief Customer Officer of Hilton Worldwide Holdings, will succeed Quinlan as CEO and join the company's Board of Directors.Witter, an industry veteran, brings nearly three decades of executive leadership, banking expertise, and operational management to Sallie Mae.
Meanwhile, Quinlan will continue to work with Witter and the company as Chairman of the Board to support in the transition until Sallie Mae's Annual Meeting of Shareholders, scheduled to take place on June 18, 2020.
Sallie Mae's Board will appoint a new Chairman in conjunction with Quinlan's departure from the Board on June 18, 2020.
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