Business, Trends and Profile NEWS
American Express Amex President Alfred F. Kelly Jr. Resigns
By Hendrik L Clarke for CEOWORLD Magazine Updated:October 5, 2009
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American Express Co (AXP.N) President Alfred Kelly will leave the company early next year.
Alfred Kelly has been responsible for the company’s consumer and small business card franchise. He has been president for the last two years.
“In the context of discussions we have had about longer-term plans for the organization, Al made clear to me that he wanted the opportunity to run a company as chief executive,” American Express CEO Kenneth Chenault said in a statement.
“Given my own plans for the coming years, we both agreed that was not likely to happen at American Express in the short term.”
Bank of America Corp (BAC.N), the largest U.S. bank, is currently looking for a chief executive, after CEO Kenneth Lewis announced he will leave the company by year-endReuters reported.
The lender also announced that Vice Chairman Edward P. Gilligan, 50, who led the global business-to-business group, will oversee consumer, small-business and network operations. Stephen J. Squeri, 50, was promoted to group president and will run a new global-services organization, including technology, customer service, operations and information management.
American Express also said it will recruit a senior executive to run a new enterprise-growth unit as the company seeks to enter other “payment areas and related businesses,” Chenault said in a memo to employees.
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