American Express appoints Michael Angelakis to Board

NEW YORK - American Express Company (NYSE: NYSE:AXP), a prominent player in the Consumer Finance industry with a market capitalization of $207 billion, announced today the election of Michael J. Angelakis to its Board of Directors. Angelakis, the Chairman and CEO of investment firm Atairos, will also serve on the company’s Audit and Compliance Committee as well as the Nominating, Governance and Public Responsibility Committee. According to InvestingPro analysis, American Express maintains a "GOOD" overall financial health score, positioning it well among its peers.

With a seasoned background in corporate finance and strategic investments, Angelakis brings a wealth of experience to the American Express Board. His previous roles include Vice Chairman and CFO of Comcast Corporation (NASDAQ:CMCSA), where he played a pivotal part in the company’s financial strategy and growth. He has also been a Managing Director at private equity firm Providence Equity Partners and has held various other executive positions throughout his career. He joins American Express at a time when the company demonstrates strong financial performance, with annual revenue of $60.8 billion and an impressive gross profit margin of 65%.

Stephen J. Squeri, Chairman and CEO of American Express, expressed his enthusiasm for Angelakis joining the board, citing his extensive financial acumen and global business management expertise as valuable assets for the company’s ongoing growth strategy.

In addition to his new role at American Express, Angelakis has a diverse portfolio of board memberships, including Exxon Mobil Corporation (NYSE:XOM), Lucky Strike Entertainment, TriNet Group (NYSE:TNET), and several private companies. He will continue to serve on the board of Clarivate Plc until its Annual Meeting on May 7, 2025.

Angelakis is a graduate of Babson College and has completed the Owner/President Management Program at Harvard Business School.

American Express, a global payments company, offers a wide range of financial products and services. The company aims to provide valuable insights and experiences to customers, enhancing their lives and contributing to business success. The company has maintained dividend payments for 55 consecutive years, with a recent dividend growth of 17%. For deeper insights into American Express’s financial health and growth prospects, including additional ProTips and comprehensive analysis, visit InvestingPro, where you’ll find detailed research reports and valuable investment metrics.

This board appointment is based on a press release statement from American Express Company.

In other recent news, American Express has announced a 17% increase in its quarterly dividend, raising it from $0.70 to $0.82 per common share. This decision, effective May 9, 2025, aligns with the company’s strategy to deliver value to its investors, as outlined in their Q4 2024 earnings report. Additionally, American Express has issued $3 billion in new notes, including $1.45 billion of 5.085% fixed-to-floating rate notes due in 2031 and $1.25 billion of 5.442% fixed-to-floating rate notes maturing in 2036. This issuance is part of their broader financing strategy to manage capital effectively.

In personnel changes, American Express disclosed that Anré Williams, Group President of Enterprise Services, will be leaving the company. Williams, who has been with American Express for 35 years, will transition from his role on February 3, 2025, and continue as Senior Executive Advisor until November 2025. The company has not yet named a successor for Williams.

Furthermore, the recent appointment of Scott Bessent as acting director of the Consumer Financial Protection Bureau is expected to impact financial firms, including American Express. This appointment could lead to the suspension of pending regulations deemed unfavorable to financial companies. These developments reflect American Express’s ongoing efforts to maintain robust financial operations and adapt to regulatory changes.

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