Sallie Mae named Chief Financial Officer Peter Graham and Chief Operational Officer Kerri Palmer co-presidents, expanding both executives’ responsibilities after the recent retirement of the company’s chief commercial officer.
Graham, who has served as executive vice president and CFO since 2023, will now also oversee strategic partnerships and emerging lines of business. Palmer, who has been executive vice president, chief operational officer and president of Sallie Mae Bank since 2023, will lead the company’s core private education loan business along with credit and operations.
The company said both executives will report to CEO Jon Witter and jointly help align and execute strategy across the business. Witter said the appointments are intended to add “depth and continuity” as the company pursues its growth strategy.
The leadership change adds a co-president structure to the company’s top ranks, with Graham remaining CFO and Palmer continuing to oversee Sallie Mae Bank while taking on the head of financial services role. Following these announcements, the company's shares moved 1.75%, and are now trading at a price of $23.83. For more information, read the company's full 8-K submission here.
