John J. Fawcett joins Bread Financial’s Board of Directors

Bread Financial Holdings, Inc. (NYSE: BFH) made a significant announcement today with the addition of John J. Fawcett to its board of directors. Mr. Fawcett, a seasoned financial services executive, was elected as an independent director at the Company’s Annual Meeting of Stockholders on Tuesday, May 14.

With over 40 years of executive banking and financial services expertise, Mr. Fawcett most recently served as the executive vice president and chief financial officer of CIT Group, Inc. until its acquisition by First Citizens BancShares in January 2022. His extensive experience in finance, accounting, and international operations is expected to benefit Bread Financial and enhance the board’s overall mix of expertise.

Ralph Andretta, president and CEO of Bread Financial, expressed his pleasure in welcoming Mr. Fawcett to the board, emphasizing the importance of continuous board refreshment. Mr. Fawcett’s impressive career includes roles at Citigroup Inc., Royal Bank of Scotland (RBS) Americas, and Citizens Financial Group (CFG), where he played a key role in the CFG initial public offering and separation from RBS.

Mr. Fawcett, who holds a bachelor’s degree in accounting and an MBA from St. John’s University, also served as a member of the board of directors at Rabobank, a Dutch multinational banking and financial service company.

Following Mr. Fawcett’s appointment, Bread Financial’s board now consists of nine directors, each bringing a wealth of experience and expertise to the table. The addition of Mr. Fawcett is expected to further strengthen the company’s leadership and strategic direction moving forward.