Sallie Mae (NASDAQ: SLM) has announced the appointment of two new members to its board of directors, effective April 23, 2025. Dr. Daniel Greenstein, currently serving as the managing director of higher education at Baker Tilly (US), brings extensive experience in higher education strategy and innovation to the board. Prior to his current role, Dr. Greenstein served as the chancellor of the Pennsylvania State System of Higher Education and also held a leadership position at the Bill & Melinda Gates Foundation.
On the other hand, Mr. Gary Millerchip, who currently serves as the executive vice president and chief financial officer at Costco Wholesale Corporation, joins the board with his decades of experience in finance, retail banking, and corporate strategy. Before joining Costco, he held various senior positions at the Kroger Co. and also had leadership roles at Royal Bank of Scotland.
Both new board members bring a wealth of experience and expertise to the company's board of directors. Their appointments are expected to complement and deepen the expertise and skills of the board, which will help advance the company's strategic priorities and deliver value for customers and shareholders.
These appointments come at a time when Sallie Mae is focused on enhancing its strategic direction and capitalizing on the evolving landscape of higher education and finance. The addition of these accomplished leaders is aimed at strengthening the board and driving the company's growth and success in the coming periods. The market has reacted to these announcements by moving the company's shares -1.4% to a price of $27.75. For more information, read the company's full 8-K submission here.
