SLM Corp. (SLM) announced Wednesday that its Board of Directors has appointed John F. Remondi chief executive officer, effective immediately. He succeeds Albert L. Lord who is moving up his plans to retire.
The Board also authorized management to pursue separation of the company's existing businesses into two, separate, publicly traded entities. One education loan management business and the other a consumer banking business.
SLM gapped open sharply higher Wednesday and is now up 2.33 at $25.31. The stock has climbed to a new high for the year.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.