American Express appoints two new directors to its board

NEW YORK - American Express Company (NYSE:AXP), a prominent player in the Consumer Finance industry with a market capitalization of $215 billion, announced on Wednesday the election of Randal K. Quarles and Noel Wallace to its Board of Directors, effective July 23, 2025, expanding the board to 14 members. According to InvestingPro data, the company maintains strong financial health with consistent dividend payments for 55 consecutive years.

Quarles currently serves as Executive Chairman and Co-Founder of The Cynosure Group, a diversified investment firm. His previous experience includes serving as Vice Chairman for Supervision of the Federal Reserve Board from 2017 to 2021, during which he also chaired the Financial Stability Board. The appointment comes as American Express demonstrates robust financial performance, with annual revenue reaching $63.4 billion and maintaining a healthy P/E ratio of 21.7.

Wallace has been President and Chief Executive Officer of Colgate-Palmolive Company since 2019 and Chairman of its Board since 2020. His career at Colgate-Palmolive spans over three decades, where he has held various senior management positions globally.

"We are honored to welcome Randy, who brings decades of financial services, public service, financial regulation and private equity experience, to our Board," said Stephen J. Squeri, Chairman and CEO at American Express, according to the company’s press release.

Regarding Wallace, Squeri noted his "extensive leadership experience driving the growth and transformation of large-scale business operations and global consumer brands."

Quarles will join the board’s Nominating, Governance, and Public Responsibility Committee and Risk Committee, while Wallace will serve on the Audit and Compliance Committee and Compensation and Benefits Committee.

Prior to his Federal Reserve role, Quarles held positions at The Carlyle Group and served in various U.S. Treasury Department roles. Wallace previously served on the Board of Directors of Kellanova (formerly Kellogg Company) from 2015 to 2018.

The appointments were announced in a company press release issued on Wednesday. For investors seeking deeper insights into American Express’s financial health and growth prospects, InvestingPro offers comprehensive analysis through its Pro Research Report, available among 1,400+ detailed company analyses, along with additional financial metrics and expert insights.

In other recent news, American Express reported strong second-quarter earnings for 2025, surpassing analyst expectations with an earnings per share (EPS) of $4.08, compared to the consensus estimate of $3.90. The company also reported revenue of $17.86 billion, slightly above the expected $17.7 billion. Truist Securities responded to these results by raising its price target for American Express from $340 to $348, while maintaining a Buy rating. UBS analyst Erika Najarian reiterated a Neutral rating with a $340 price target, noting that the earnings beat might influence market reactions. Monness, Crespi, Hardt also maintained a Neutral rating, citing concerns about potential slowing in travel spending trends, despite the solid quarterly performance. The firm provided a fair value estimate of approximately $285 for the stock. American Express continues to project its full-year 2025 EPS guidance between $15.00 and $15.50. These recent developments highlight the company’s ability to exceed earnings expectations while navigating investor sentiment and market conditions.

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