Navient Corporation announced that David L. Yowan, a member of the Navient board of directors and formerly corporate treasurer for American Express, has been appointed president and CEO of the company. He succeeds Jack Remondi in this role, effective May 15, 2023. Remondi, whose director term expires as of the 2023 Annual Meeting of Shareholders on May 25, will not be renominated to the board at the Annual Meeting.

David L. Yowan has been a director of Navient since April 2017. He has chaired the Audit Committee and served on the Risk Committee. He was previously Executive Vice President and Corporate Treasurer of American Express.

He brings over 40 years of experience in risk management, balance sheet management, funding and liquidity, and in integrating financial management with business strategy. During his time at American Express, he played a key role in navigating the financial crisis of 2008-2009. He led a significant transformation of the company's funding profile and the transition of American Express into a bank holding company.

Prior to joining American Express in 1999, Yowan spent time at Citicorp in its global consumer banking business and before that at the Ayco Corporation, now a part of Goldman Sachs. Yowan earned a bachelor's degree in economics from the College of William & Mary and a Master's of Management from the Kellogg School at Northwestern University.