(Photo: Mario Tama, Getty Images file)
Kenneth Chenault will step down as Chairman CEO of American Express in February, to be succeeded by Stephen Squeri, the company said on Wednesday.
It will be the end of a 17-year run at the helm of Amex, and a 37-year career with the company. Named CEO in 2001, Chenault, 66, is among the first African Americans to run a Fortune 500 company, and he recently completed a two-year turnaround.
In a statement he said, “We’re starting a new chapter from a position of strength and this is the right time to make the leadership transition to someone who’s played a central role in all that we’ve accomplished.”
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