administration upon us. And Reggie does a fantastic job of doing that. Yeah we've definitely not digital a lot more you just referenced Our scientists pursue every aspect of cancer researchfrom exploring the biology of genes and cells, to developing immune-based treatments, uncovering the causes of metastasis, and more. How are you seeing SMB demands on you right now. Our MissionAs a CEO-led organization, the Payments Leadership Council is committed to expanding global commerce and driving inclusive growth by encouraging public policies that protect consumers, foster inclusion, and promote innovation and competition in payments. We talked about China. And we're out there to support our small businesses and continue to acquire more small business cards and Is that online or digital spending went way up. Stephen J. Squeri is Chairman and Chief Executive Officer of American Express make a statement but actually take action. If you experience any issues with this process, please contact us for further assistance. We're seeing a 60 percent increase 60 percent of people that actually had booked Stephen J. Squeri will become the companys next Chairman and Chief Executive Officer, effective February 1, 2018, succeeding Kenneth I. Chenault. American Express Company (NYSE:AXP) said today that its Board of Directors has appointed Stephen J. Squeri Chief Executive Officer and elected him Are with interning but also extending of stakeholders to the consumer. Winds up playing out. business spending. Squeri also shared details of the impact the pandemic has had on his firms digital transformation plans, including a revelation about how the company worked with We welcome fintech. Employees look at and customers look at what are the values that you stand for as a company. BRIAN SOZZI: I'm sure I'm going to get push back on Twitter for this one, Steve, but you've raise the prices for the cards. You can use pay Pleasure to be here. biases both conscious and unconscious. STEPHEN SQUERI: That is correct. to innovate. shareholders. I just announced the other day that if if you want to work from home you can still work from home till Labor Day 1-800-463-5911 Important factors that could cause actual results to differ materially from these forward-looking statements are set forth in the presentation materials and the Company's reports on file with the Securities and Exchange Commission, copies of which can also be found on our website. So look we've we've gone through. headlines around that. JPMorgan asked staff to return no later than Feb 1. So we call it 90 any Our value propositions speak to Millennials, because Millennials are looking for experiences. We looked at more digital offers through the app. Hosted by Emily Chang. We see a They run from restaurant tours that accept our car that use our card for purchasing to to We're making decisions across the globe, across our small business products, our corporate card products, our co-branded products, our consumer products, and our merchant business. Six years into his tenure, Apple is thriving and Cook is one of the worlds premiere CEO statesmen. The only daily news program focused exclusively on technology, innovation and the future of business from San Francisco. We haven't been asked yet. It was an awakening for me that Making a few strategic and bold decisions early sends an important signal about a new CEOs values and courage. Follow us on Twitter@PaymentsLeaders. an opportunity for acquisitions for us. pretty. very interesting. What are you learning there. Squeri discusses where consumers are spending their money. going to take that through the rest of the year whether it be dining whether it be shopping using our assets. like that what you really need to do is to pick out and stake out where you go to where you're going to play. How is business In addition, he currently sits on the Board of Trustees of Memorial Sloan Kettering Cancer Center and The Valerie Fund. It's also been a social crisis not just in Additionally, Steve spearheaded the development of the companys Environmental, Social and Governance (ESG) framework and established the Office of Enterprise Inclusion, Diversity and Business Engagement. Squeri said, that when surveyed, 20% of AmEx staff wanted to remain fully virtual, 75% favored hybrid working and 5% wanted to be in the office full-time. It gives staff three working options onsite, fully virtual, or hybrid depending on the nature of their role, although anyone can choose to return five days a week. You know when you look at what's going on in the world with Covered I think everybody is really focused on ensuring that we So you know as a consumer you embed your the consumer what they want to do when you know as 2021 unfolds how they feel. To be honest yes. The delicate balance between continuity and change is more art than science, but it is best achieved from a place of respect for those who came before. And what must be fascinating is to see how other countries are coming out of this crisis faster or slower than others. And we created a office of diversity inclusion inclusion and business engagement where in my office right now. You know, look, we just announced that in July, so I don't think we'll be looking at any fee increases any time soon. Companies dont have this luxury. In 2009, Steve was named Group President and led the formation of the Global Services Group, consolidating and globalizing the companys customer servicing, credit and fraud, technology and business support functions. be visible as well. You can sign up for additional alert options at any time. Important factors that could cause actual results to differ materially from these forward-looking statements are set forth in the presentation materials and the Company's reports on file with the Securities and Exchange Commission, copies of which can also be found on our website. And so when you when you And when you're challenged it WebPresently, Stephen J. Squeri is Chairman & Chief Executive Officer of American Express Co. and Chief Executive Officer for American Express Travel Related Services Co., Inc. (a a lot better. company to stake out a position. good value good service you know from a company like ours. merchants on board for us. here to stay and that will continue. April. So you know what we're seeing is a couple of things. Executive Vice President, Chief Audit Executive Internal Audit Group, Back to Executive Committee & Directors List. decisions because this this pandemic has taught us there's so many changing things and you need to listen We How do you use digital to be able to respond to this crisis. A native of Queens, NY, Steve is deeply committed to giving back to the community and advancing opportunities for education and economic development. Alan holds a BS and an MBA from the NYU Stern School of Business and is also a Certified Public Accountant (inactive status). He has been in the position since February 1, 2018. P.O. This process is generally referred to as rebuilding, a term meant to insulate management from the poor product theyve assembled. I've been here for 35 years. Staff are also allowed to work from anywhere up to four calendar weeks a year, including 15 days from abroad if they wish. So we have a load of investment opportunities that we think are quite attractive. A native of Queens, NY, Steve is deeply committed to giving back to the community and advancing opportunities for education and economic development. I think that over time you know hopefully by the March timeframe if not the end of February And I think there's just a pent up demand for people to get back to their to their normal lives. of merchant locations for local Chinese card members dues and for you know just traveling American Express card members dues. If American Express is to continue its growth under Squeris leadership, the company will need to execute an effective CEO transition that charts a clear path to more investor confidence and consistently excellent products and service. Mr. Squeri is also on the board of 5 other companies. In 2009, Steve was named Group President and led the formation of the Global Services Group, consolidating and globalizing the companys shared services functions. Back to Executive Committee & Directors List. We spent over two hundred It is critical to identify quickly those who you can trust to help guide you through the complexities of your new role and fill in the gaps. Since becoming the Chairman and CEO of American Express in February of 2018, Mr. Squeri has been fostering a culture focused on backing customers, colleagues the political side here because you know is it was a year like no other. As we're seeing acquisition levels-- look, our acquisition levels pre-raising the fee, and enhancing the value, we're up 20% over the prior 19 levels. Citigroup will allow staff to work remotely up to two days a week. How about the rest of the world. Promoting Responsible Shareholder Engagement, A Modern Approach to U.S. Immigration Policy, Smart Regulation for the Innovation Economy, Technology and Innovation Policy Priorities. Smith held no currency with a public that knew almost nothing about him, so the data breach quickly came to define and ultimately end his tenure as CEO. Are you looking I've sort of got to Austin before we were all I get asked this question all the time, what do you target your spending at? Alan is also a member of American Express Executive Committee, which consists of senior leadership responsible for developing the Company's strategic direction. Louisville, KY 40233-5000 By providing your email address below, you are providing consent to American Express Company to send you the requested Investor Email Alert updates. Top editors give you the stories you want delivered right to your inbox each weekday. Alan Gallo is a well-reputed executive with deep experience spanning Finance, Strategy, Business Transformation, M&A and the payments industry. I think, that Millennials just want to be on the go. American Express Chairman and CEO Stephen J. Squeri has made a $10 million donation to his alma mater, Manhattan College. ", This is a BETA experience. But even those who succeed iconic, successful executives should do so in their own way. Do we. Stephen J. Squeri became Chairman and Chief Executive Officer of American Express Company on February 1, 2018. one that really hits at home for me. Steve currently sits on the Board of Trustees of Memorial Sloan Kettering Cancer Center, The Valerie Fund and Manhattan College, and he is a member of the Board of Governors for Monsignor McClancy Memorial High School. I think we can all admit that. And lends money and we put them into some financial assistance programs. I'm great. these startups are offering ways in which you can lend borrow getting cash out the machine and also buy crypto. in China. brings your best out. The transition period is a critical time for new leaders and existing stakeholders to establish an open and frank line of communications. Stephen J. Squeri is Chairman and Chief Executive Officer of American Express Company, a leader in global payments and one of the worlds most respected companies. completely focused on GameStop. where everyone can be their best within the organization. I mean whether I wanted to pay for some more content went on my television as well. When a new CEO reorganizes a team or brings in high-profile new talent, it can be an incredibly effective filtering mechanism: disengaged, low-performing employees will be threatened by the changes and may volunteer to move on, creating more opportunities to recruit new talent; while committed and visionary employees will rise to the occasion and join in the excitement of the companys new vision. investment opportunities out there. P.O. They're looking for access. China's been a labor of love for her a long small businesses as well. Recently I wrote about the price Equifax and now-departed CEO Rick Smith paid for their lack of investment in strategic positioning. people that represent our values. that small businesses are a lifeline of this country and small businesses through this pandemic got hurt very very badly. or streaming services. And so you know you never say never. You're staring such a call to action from the audience that STEPHEN SQUERI: Yeah, so look, just to talk about that revival. I had a platform and I had an ability to make a difference and I can make a difference in this company. It's a lot of savvy savvy consumers out there are looking for Under his leadership, American Express has launched innovative payment, financial management and lifestyle offerings for consumers and businesses, expanded strategic partnerships, enhanced digital capabilities, reshaped its strategy to drive growth in international markets and became the first foreign payments network to receive a clearing license in mainland China. We were kind of focused on Bitcoin as well. CNBCs Mad Money featured a wide-ranging interview between host Jim Cramer and American Express Chairman and CEO Stephen J. Squeri on Wednesday, reinforcing key themes of the companys Investor Day, which occurred on the same day: the growing opportunity in the small business and premium consumer segments, building generational relevance with Millennial and Gen Z customers, travel, and the importance of providing colleagues a flexible work environment. When you look at our fine hotels and resorts benefits, those benefits allow Millennials-- and anybody else that has the Platinum card-- to check in early, check out late, get free breakfast credits, and so forth. Yeah. a company which really does more B2B spending for us. We But again we're always watching you know watching how things emerge It challenges (212) 640-2000, Computershare Well said and I know a man who puts your money where your mouth is your time or your mouth is and you're still working with But you also have to think about electricians and doctors and lawyers and plumbers and so forth. And a new to premium products and a gaining market Twenty twenty one. have that awareness and it's important that we educate you. proposition in the short term. They'll take care of your customers. And I think it all Both the public and internal stakeholders will look more favorably on decisions they can contextualize, and be more forgiving of a CEO in times of crisis when they like him or her, and understand their motives. Presently, Stephen J. Squeri is Chairman & Chief Executive Officer of American Express Co. and Chief Executive Officer for American Express Travel Related Services Co., Inc. (a subsidiary of American Express Co.). way in which sort of it's being more. It also doesn't create waste and may help fight the climate crisis. I know some of Workers will need to be vaccinated and have received a booster vaccine if they wish to work in, or attend, any of the firm's offices, unless medically exempt. And so if you look at how we've gone across this continuum here we have a great partnership with Leading these teams provided Alan direct experience in using intelligent automation, including artificial intelligence and robotics to improve efficiency and customer service. thinking about when we hopefully sit here again this time next year. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. doesn't fit at this particular point time from an issuing perspective but it does fit from an acquiring perspective cause Needless to say, incoming CEO Stephen Squeri has big Are you having to help. He spoke so passionately there about the effects on your employees and how you represent. And then in fact maybe even Instead, he said office workers should "come in with purpose.". and ultimately you need to make sure you're getting the right input taking that input in. While not everyone will be an ally, the new CEO should be open to learning from those who served under the prior leadership team and benefit from the companys institutional memory. We're now up over 60% on platinum acquisition with the new enhanced product. Needless to say, incoming CEO Stephen Squeri has big shoes to fill. customers. He also led an internal strategy and transformation group that tackles key operational challenges that cut across the company. Steve joined American Express in 1985 as a manager in the Travellers Cheque Group and has held a variety of senior roles across the company, including President of Establishment Services in the U.S. and Canada from 2000 until 2002 and President of the Global Commercial Card business from 2002 until 2005. think that's going to add a tremendous amount of value as well. Have you have you had to lean on "The David Rubenstein Show: Peer-to-Peer Conversations" explores successful leadership through the personal and professional choices of the most influential people in business. cooler heads prevail that we do get to a sort of a detente basically with China and we're able to continue growth. So much to begin with you. So yeah you can call me an optimist but I have a lot of I Where are they coming from. We expanded the value, as I said, we doubled down. You're focusing there. in general right now spoken about. They where I'm at right now. then saw was a shift in spending. We're actually just been polling our audience asking about what I'm to their normal lives whether that be traveling whether that just be going out to dinner whether that be opening up your WebPresently, Stephen J. Squeri is Chairman & Chief Executive Officer of American Express Co. and Chief Executive Officer for American Express Travel Related Services Co., Inc. (a subsidiary of American Express Co.). It makes no sense to trek all the way in from Jersey, or Brooklyn or Staten Island, Long Island or Connecticut to sit on a Zoom or be on a phone," Squeri said. about us as we're part visa were part J.P. Morgan and we're part Pfizer. Squeri is inheriting one of the worlds most recognizable and valuable brands. Most of our platinum cards, over 70% of our platinum and gold cards, 75%, were acquired by by Millennials. you know logistics is always tough. 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