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2017-10-18 17:13:03
American Express Chief Executive Ken Chenault to Step Down

American Express said on Wednesday that Kenneth I. Chenault, 66, will retire as its chairman and chief executive next year. He will be succeeded by Stephen J. Squeri.

Mr. Chenault, who has led American Express since 2001, is one of the longest-serving executives in the finance industry and one of corporate America’s few black chief executives.

“We’re starting a new chapter from a position of strength and this is the right time to make the leadership transition,” Mr. Chenault said in a statement.

Mr. Squeri, 58, has been the company’s vice chairman since 2015. He will become chairman when he takes Mr. Chenault’s place on Feb. 1, 2018.