Bread Financial (NYSE: BFH) plans EVP retirement, $945K payout and new CRO
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Bread Financial Holdings, Inc. announced that Executive Vice President and Chief Commercial Officer Valerie Greer intends to retire effective on or around February 19, 2027. Under a Salary Continuation, Release and Retirement Agreement dated July 8, 2026, she will continue to receive her current base salary, benefits and perquisites until that date.
Subject to the agreement’s terms, Greer will receive her full-year 2026 annual cash incentive in early 2027, a cash payment of $945,000 within 30 days after retirement, and certain additional travel, financial and legal service benefits. No new equity awards will be granted, though existing equity will vest on its original schedule. Bread Financial also stated that Dennis McCarthy will become Executive Vice President and Chief Revenue Officer in early September, joining the executive leadership team and reporting to the CEO.
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8-K Event Classification
3 items: 5.02, 7.01, 9.01
3 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Retirement Date: February 19, 2027
Cash retirement payment: $945,000
Agreement date: July 8, 2026
+3 more
6 metrics
Retirement Date
February 19, 2027
Planned retirement date for Executive Vice President and Chief Commercial Officer Valerie Greer
Cash retirement payment
$945,000
Lump-sum cash payment to Greer within 30 days of the Retirement Date
Agreement date
July 8, 2026
Date of the Salary Continuation, Release and Retirement Agreement with Greer
New CRO timing
early September
Dennis McCarthy to become Executive Vice President and Chief Revenue Officer
Career length
nearly four decades
Valerie Greer’s career span in financial services
Company history
30 years
Bread Financial marks 30 years of success in 2026
Key Terms
Salary Continuation, Release and Retirement Agreement, Post Employment Non-Disclosure, Non-Competition, and Non-Solicitation Agreement, Regulation FD, non-cumulative perpetual preferred stock, +1 more
5 terms
Salary Continuation, Release and Retirement Agreement regulatory
"The Company and Ms. Greer have executed a Salary Continuation, Release and Retirement Agreement"
Post Employment Non-Disclosure, Non-Competition, and Non-Solicitation Agreement regulatory
"together with the Post Employment Non-Disclosure, Non-Competition, and Non-Solicitation Agreement attached thereto"
Regulation FD regulatory
"Item 7.01 Regulation FD Disclosure. On July 14, 2026, the Company issued a press release"
Regulation FD is a rule that prevents company insiders, like executives, from sharing important information with some people before others get it. It matters because it helps ensure all investors have equal access to key news, making the stock market fairer and reducing chances of insider trading.
non-cumulative perpetual preferred stock financial
"Depositary Shares, Each Representing a 1/40th Interest in a Share of 8.625% Non-Cumulative Perpetual Preferred Stock"
Non-cumulative perpetual preferred stock is a type of investment that pays a fixed dividend forever, without a set end date. If the company skips some dividends in a year, you don’t get that money later, and it’s gone forever. It matters because investors get regular income but may miss out if the company faces financial trouble.
co-brand and private label credit cards financial
"through our co-brand and private label credit cards and pay-over-time products"
FAQ
When will Bread Financial (BFH) executive Valerie Greer retire?
Valerie Greer plans to retire effective on or around February 19, 2027. She will remain with Bread Financial through February 2027 to support a smooth leadership transition after serving as Executive Vice President and Chief Commercial Officer.
What retirement compensation will Valerie Greer receive from Bread Financial (BFH)?
Greer will receive continued base salary and benefits until her retirement, her full-year 2026 annual cash incentive in early 2027, a $945,000 cash payment within 30 days after retirement, and certain additional travel, financial and legal service benefits.
How will Valerie Greer’s equity awards be treated at Bread Financial (BFH)?
Greer will receive no new equity grants, but her outstanding equity awards will continue to vest under their existing terms. This preserves her previously granted long-term incentives while preventing additional equity-based compensation before retirement.
Who will take on expanded commercial leadership at Bread Financial (BFH)?
Dennis McCarthy will become Executive Vice President and Chief Revenue Officer in early September. He will join Bread Financial’s executive leadership team, report to the CEO, and oversee revenue-focused responsibilities across the commercial organization.
What agreements govern Valerie Greer’s retirement from Bread Financial (BFH)?
Her retirement is governed by a Salary Continuation, Release and Retirement Agreement dated July 8, 2026, together with a Post Employment Non-Disclosure, Non-Competition, and Non-Solicitation Agreement that sets confidentiality, non-disparagement, non-compete and non-solicit obligations.
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported):
(Exact Name of Registrant as Specified in Charter)
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
(Address and Zip Code of Principal Executive Offices)
(614 ) 729-4000
(Registrant’s Telephone Number, including Area Code)
NOT APPLICABLE
(Former name or former address, if changed since last report)☐
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading symbol | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Valerie Greer, Executive Vice President and Chief Commercial Officer of Bread Financial Holdings, Inc. (the “Company”), has provided notice of her intent to retire, effective on or around February 19, 2027 (“Retirement Date”).
In connection with her planned retirement, the Company (through its wholly-owned subsidiary Bread Financial Payments, Inc.) and Ms. Greer have executed a Salary Continuation, Release and Retirement Agreement, dated July 8, 2026 (together with the Post Employment Non-Disclosure, Non-Competition, and Non-Solicitation Agreement attached thereto, the “Agreement”). Subject to its terms and conditions, the Agreement provides for Ms. Greer to receive: (1) her current base salary, and to remain eligible for equivalent benefits and perquisites, until the Retirement Date; (2) her full-year 2026 annual cash incentive compensation award, to be paid in early 2027; (3) a cash payment of $945,000, less applicable taxes and withholdings, to be paid within 30 days of the Retirement Date; and (4) certain other limited benefits and perquisites relating to travel, financial services and legal services. No new equity grants shall be made to Ms. Greer, but her outstanding equity grants will continue to vest in accordance with the terms thereof. The Agreement also includes terms and conditions governing Ms. Greer’s provision of services to the Company until her departure, her general release of claims subject to customary exceptions, her obligations of confidentiality, cooperation, non-disparagement, non-competition and non-solicitation, and other customary provisions.
Item 7.01 Regulation FD Disclosure.
On July 14, 2026, the Company issued a press release announcing Ms. Greer’s intention to retire and certain changes to the executive leadership team. A copy of the press release is attached hereto as Exhibit 99.1.
The information contained in this Item 7.01 (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Document Description | |||||||
99.1 | Press release dated July 14, 2026. | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Bread Financial Holdings, Inc. | ||||||||
| Date: July 14, 2026 | By: | /s/ Joseph L. Motes III | ||||||
| Joseph L. Motes III Executive Vice President, Chief Administrative Officer, General Counsel and Secretary | ||||||||
Exhibit 99.1
Bread Financial Announces Executive Leadership Changes
•Valerie Greer, Executive Vice President and Chief Commercial Officer, to retire after nearly four decades in financial services
•Industry veteran Dennis McCarthy to be promoted to Executive Vice President and Chief Revenue Officer
COLUMBUS, Ohio – July 14, 2026 – Bread Financial® (NYSE: BFH), a tech-forward financial services company that provides simple, flexible payment, lending and saving solutions, today announced executive leadership changes in its commercial organization.
Valerie (Val) Greer has decided to retire from the company to spend more time with her family following a nearly four-decade career in financial services. Greer has played a key role in Bread Financial’s success since joining in 2020, including leading the expansion of the company’s product suite and marketing, digital and customer experience organizations as well as strengthening business development and relationships across its growing portfolio of partners during a pivotal time in the company’s strategic transformation. She will remain with Bread Financial through February 2027 to help ensure a smooth transition.
“Val has been a driving force behind Bread Financial’s growth over the past six years, shaping where the commercial organization is today and its path forward,” said Ralph Andretta, president and CEO. “She brought extensive industry expertise, steady leadership and a strong commitment to partners, customers and associates. Val has been a trusted advisor for many years, and on behalf of the full executive leadership team and Board of Directors, we thank her for her many contributions to our organization and wish her the best in this new chapter as she prepares to retire.”
Dennis McCarthy will become Executive Vice President and Chief Revenue Officer, and a member of Bread Financial’s executive leadership team in early September, reporting to Andretta. Since joining the company in 2021, Dennis has a proven track record of success, playing a central role in advancing the client partnership team’s operating model, driving the renewal success of key partner relationships, strengthening customer acquisition and retention, and increasing revenue through effective data-driven marketing and product strategies. A highly respected advisor and known for his ability to unite teams and work toward effective outcomes, he is a disciplined, trusted and confident leader who has navigated many significant milestones and changes.
Prior to joining the company, he spent nearly a decade at Citi, where he was responsible for several prominent partnerships, and previously held various leadership roles at Barclays and Bank of America.
“Dennis is the right leader to take on expanded responsibilities that include shaping the next chapter of growth for our company,” Andretta said. “His deep industry expertise and focus on our partners and customers have earned the trust that defines strong leadership. His strategic enterprise mindset combined with that foundation will help us further strengthen and advance our business objectives.”
About Bread Financial®
Bread Financial® (NYSE: BFH) is a tech-forward financial services company that provides simple, personalized payment, lending and saving solutions to millions of U.S. consumers. Our
payment solutions deliver growth for some of the most recognized brands in travel & entertainment, specialty apparel, health & beauty, jewelry, sporting goods, technology and electronics, as well as home & furniture through our co-brand and private label credit cards and pay-over-time products providing choice and value to our shared customers. Additionally, we offer Bread Financial general purpose credit cards and saving products that empower our customers and their passions for a better life.
Bread Financial proudly marks 30 years of success in 2026. To learn more about our global associates, our performance and our sustainability progress, visit breadfinancial.com or follow us on Instagram and LinkedIn.