Such changes had been demanded by a group of eight dissident shareholders, led by former Morgan Stanley President Robert Scott.

FORBES: Purcell Hangs On

"Quite frankly, the dissident shareholders haven't really laid out what they think the best way to go for the company is, " says Stover.

FORBES: Magazine Article

Purcell tossed a bone to dissident shareholders this spring when he said the board would consider a spinoff of Discover, though the company denied the decision was in response to the shareholder demands.

FORBES: Mack Refuses To Attack