The following announcement was made today based on an internal
memo from Kenneth I. Chenault, American Express Chairman and Chief
Executive Officer, to American Express (NYSE:AXP)
employees:
From: Ken Chenault To: All American Express
Employees and Contractors Date: June 24, 2015 Subject: Organization
Announcement
A little over three weeks have gone by since we learned of the
tragic passing of our friend and colleague, Ed Gilligan. Over that
time, the American Express family has come together to pay tribute
to Ed in a number of ways. I want to thank everyone again who took
the time to participate in these activities. Your outpouring of
compassion for Ed’s family and for each other has been just the
latest example of why I am so proud to lead this great company.
As I said at our global town hall last week, honoring Ed’s
memory isn’t just about looking back; it is also about moving
forward. As we do so, we are fortunate because we have a strong and
experienced senior team across business disciplines and geographies
who can provide the leadership we need to meet our challenges and
achieve our growth objectives.
With that in mind, today I am announcing the realignment of
several businesses and reporting lines in a way that leverages the
strengths of our executive team to help us build momentum and
capitalize on the growth opportunities we have across the company.
Effective immediately:
- Steve Squeri will take on
responsibility for OPEN, led by Denise Pickett, and
Enterprise Growth, led by Neal Sample, in addition to his
current responsibilities overseeing Global Corporate Payments and
the Global Services Group, the company’s shared services
organization. These additional responsibilities are a reflection of
Steve’s strong track record in leading several of our businesses
over his 30-year Amex career and will broaden his experience in
some key areas of our company. Steve, who reports to me, will also
continue to work with me on a wide range of priorities across the
enterprise. In recognition of his expanded role, Steve will be
promoted to Vice Chairman of American Express Company.
- Doug Buckminster, President of
Global Network and International Card Services, will take on
responsibility for One Europe, led by Pierric Beckert, in
addition to his current responsibilities. Doug will report to
me.
- Josh Silverman, President of
Consumer Products & Services, will report to me.
- Anré Williams, President of
Global Merchant Services, will report to me.
- John Hayes, Chief Marketing
Officer, will take on additional responsibility for the Digital
Partnerships and Development team, led by Leslie Berland,
and is changing the name of his group to Global Brand, Marketing
and Digital Partnerships to reflect its expanded scope. John
continues to report to me.
- Paul Fabara, President of Global
Banking and the Global Network Business, will be elected an officer
of the company and will report to me, reflecting the crucial role
the banks play in how we operate our businesses.
- The remainder of my current direct
reports will continue reporting to me.
Over the coming weeks, the heads of the staff groups will assess
the impact of this realignment on the support they provide the
businesses and make any changes, as needed.
Following is some context for the changes I’m announcing
today:
OPEN and Enterprise Growth
Business-to-business payments is one of the company’s largest
and most attractive growth opportunities. Bringing OPEN -- the
leading small business payments provider in the U.S. – closer
together with Global Corporate Payments – the leader in providing
payments and expense management solutions to mid-sized and large
businesses around the world – under Steve’s leadership will help us
identify ways to best leverage the strengths of each organization
to capitalize on those opportunities. In doing so, our focus will
be on meeting the payments needs of businesses through all stages
of their growth, from start up to multinational corporation.
We created Enterprise Growth as a separate business unit five
years ago to help us become a leader in the world of emerging
payments. Since that time, the team has taken Revolution Money, the
start-up, peer-to-peer payments company that we acquired in 2010,
and evolved it into the multi-functional Serve software platform
that powers our Bluebird and Serve products, making the American
Express brand more welcoming and inclusive for a whole new segment
of customers. Enterprise Growth is primarily a technology-driven
business, and, under Steve’s leadership, Neal and the team will
continue to focus on building the business while we also create
opportunities for greater synergies with other platforms in the
company.
International and One Europe
Our international businesses represent tremendous growth
opportunities for the company and are key to our overall success.
We created the One Europe organization earlier this year to reflect
the unique challenges and opportunities of that region, and we’ve
made very good progress in a short time. Doug is one of our most
experienced international executives, and bringing the European
business under his leadership will help ensure we continue the
momentum that Pierric and his team have established. I will be
working directly with Doug and his team as we continue to execute
our international growth strategy going forward.
U.S. Consumer and Global Merchant Services
As I have said on many occasions, we are pursuing a broad range
of growth opportunities against the backdrop of a challenging
business environment. None are more critical than our U.S. Consumer
and Global Merchant Services businesses. Josh and Anré have strong
teams and strategies in place to drive their businesses forward and
deal with the challenges we face.
Our U.S. Consumer business is one of our largest, most prominent
businesses, and it’s one that continues to have significant growth
opportunities. At the same time, the competitive landscape
continues to intensify, and the digital revolution is changing the
behavior and expectations of customers and prospects. I will be
working closely with Josh and his team to help ensure we continue
to grow our U.S. Card and global Travel & Lifestyle Services
businesses as we expand our product offerings and deepen customer
loyalty to meet the evolving needs of customers and prospects.
Our merchant network is the backbone of our business, connecting
buyers and sellers around the globe and delivering value to both.
Expanding the network is a key priority, one that Anré and his team
will continue to focus on through innovative approaches, such as
OptBlue and a number of other initiatives. At the same time, the
team will continue their work on dealing with regulatory and legal
challenges in several regions around the world. I will be working
closely with Anré and his team to continue our progress in
expanding welcome acceptance across all merchant categories and
segments in an evolving regulatory environment.
Global Brand, Marketing and Digital Partnerships
American Express is widely recognized for its marketing
expertise, and we have been at the forefront in adapting our
traditional strengths for the digital age. In addition, as
technology continues to impact every aspect of our business, we
must build on the momentum we have established in creating
innovative partnerships with some of the most iconic digital
players. Leslie will report to John in an expanded role that will
enable us to continue our leadership in bringing innovative digital
products and services to market, while also creating synergies to
strengthen our overall marketing capabilities and help drive growth
across our businesses as the worlds of online and offline commerce
converge. John will communicate details of this approach in the
coming weeks.
Global Banking and Global Network Business
Our Global Banking Group plays a central role in our business.
Ensuring we have the right governance infrastructure in place to
conduct our businesses in strict compliance with regulatory
requirements is a fundamental obligation to our customers and our
shareholders. What’s more, it is critical to delivering on our
brand promise of trust, security and service. The linkages between
our banks and our businesses are strong, and I will work with Paul
and his team to continue our sharp focus on this key priority.
Additionally, we’ll continue our focus on developing our global
network capabilities to enable our Card Members to use their
American Express Cards seamlessly and securely, wherever they are
in the world.
We have a strong business, an experienced leadership team and
talented employees across the globe who are committed to winning.
Our opportunities for growth are exciting and many. These
organizational changes will help drive collaboration, facilitate
innovation and enable quick decision making at a pivotal time for
our company. Together, I know we are more than up to the
challenge.
About American Express
American Express is a global services company, providing
customers with access to products, insights and experiences that
enrich lives and build business success. Learn more
at americanexpress.com and connect with us
on facebook.com/americanexpress,
foursquare.com/americanexpress, linkedin.com/company/american-express,
twitter.com/americanexpress,
and youtube.com/americanexpress.
Key links to products and services: charge and credit cards,
business credit cards, Plenti rewards program, travel services,
gift cards, prepaid cards, merchant services, corporate card and
business travel.
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version on businesswire.com: http://www.businesswire.com/news/home/20150624006153/en/
Media Contact:Marina Norville,
+1.212.640.2832marina.h.norville@aexp.com
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