American Express’ CEO Kenneth Chenault will step down on February 1st, 2018 according to the Wall Street Journal. Chenault will be replaced by Stephen Squeri who has been vice chairman since 2015. Squeri’s previous positions at American Express have been as follows:
- July 2015-current: Vice chairman and led the Business-to-Business group
- November 2011 to July 2015:Â President of Global Corporate Services at American Express
- October 2009 – November 2011:Â Group President of Global Services
- October 2009 – November 2011Â Chief Information Officer and
- May 2005 to October 2009:Â Executive Vice President
Chenault stepping down shouldn’t come as a surprise due to American Express falling share price since the loss of the Costco portfolio. It will be interesting to see what direction Squeri takes American Express in after he takes over the top job.
