Kenneth I. Chenault

American Express CEO Kenneth Chenault to retire next year

Kenneth Chenault, one of the most prominent black corporate leaders and long-time chairman and CEO of American Express, is stepping down next year, the company announced Wednesday.

Chenault, 66, will be replaced on Feb. 1 by Stephen Squeri, who will take over as both American Express' CEO and chairman of the board. Squeri, 58, is currently vice chairman at American Express.

Chenault took over as CEO in 2001 and guided the company through several seismic events, including the terrorist attacks on Sept. 11, 2001. The company's headquarters in Manhattan is next door to the site of the World Trade Center, and it was severely damaged in the attack.

He also led the...

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