Las Vegas Sun

November 16, 2009

Currently: 40° | Complete forecast | Log in

Ailing credit card company names new CEO

Monday, Nov. 26, 2001 | 9:49 a.m.

SAN FRANCISCO -- Crippled credit card issuer Providian Financial Corp. today announced the hiring of Joseph Saunders as its new president and chief executive officer.

Saunders, 56, most recently served as chairman and CEO of Fleet Credit Card LLC. He replaces Shailesh Mehta, the mathematical wizard behind Providian's celebrated computer models.

With the slumping economy, a growing number of deadbeat customers and a series of consumer complaints, Providian has faltered in recent months and was struggling to find a new leader.

The company said earlier this month it planned to slash expenses by closing an office in Henderson, near Las Vegas, and laying off 700 employees there.

archive

  • Most Read
  • Discussed
  • Most E-mailed

Complete Listing

Calendar »

  • 16 Mon
  • 17 Tue
  • 18 Wed
  • 19 Thu
  • 20 Fri