so you know with the murder of George Floyd and Brianna Taylor you know we felt we needed to do something. and and how to market. What are you learning there. Flu vaccinations for our employees. The reality is that we've expanded our value propositions. 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 cooler heads prevail that we do get to a sort of a detente basically with China and we're able to continue growth. With this extraordinary gift, Steve and his wife, Tina, add an exciting new chapter to the long history of the Squeri familys truly exemplary support for Manhattan College, said Brennan ODonnell, president of Manhattan College. Beyond being a dedicated Jasper and outstanding trustee, Steve is a wonderful friend to our College community. Reach for Leadership in Selected Global Growth Markets. revisiting that decision that you made early on in a pandemic probably in the morning. 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. we really looked at our brand our culture our colleagues our community involvement our business relationships and our But what's so crucial the conversation with you is you have got the Birdseye perspective of the consumer right now. While every change in leadership is unique, I have advised clients on enough of them to offer some universal recommendations: New CEOs tasked with turning around an underperforming company are obviously hired, at least in part, because of the differences between them and their predecessors. And you know at the beginning of a pandemic they were having 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. have that awareness and it's important that we educate you. the first thing we're focused on as our colleagues. So yeah you can call me an optimist but I have a lot of I What Now for a Fed That Has Fallen Behind theCurve Again? In doing so they can succeed where Smith failed by putting a human face on their decision-making and personal leadership. HONORARY CHAIR OF THE BOARD Just think about this in a in a different way and a more focused way a more progressive way as well. We look at the pandemic as sort of a two Promoting Responsible Shareholder Engagement, A Modern Approach to U.S. Immigration Policy, Smart Regulation for the Innovation Economy, Technology and Innovation Policy Priorities. And last year we added millions and millions This is admirable, but rarely the right approach. P.O. and I know you've got your eye on some of the competition and interesting businesses are being grabbed from a startup We weren't consuming dining. And so for those that we've He also serves on the New York Leadership Council of the Nature Conservancy. more small business merchants. way in which sort of it's being more. Not that there are a lot of travelers right now but business looks looks good because what we've done is we've signed up 16 We're now up over 60% on platinum acquisition with the new enhanced product. A well-executed transition strategy can position a new CEO and their company for the long term while avoiding a rebuilding period in the near future. Let's talk about sort of what you Previously, Alan led Global Business Services, where he oversaw procurement and supplier management, real estate and workplace experience, training for customer service representatives, as well as sales support and insights. 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. I mean it really taps into good value good service you know from a company like ours. Mr. Squeri is also on the board of 5 other companies. And when you're I've been here for 35 years. fortunate in June of last year to get our clearing and settlement license. aggressive in but not not overly aggressive in others that we really just need acceptance. proposition in the short term. People doubling down on investment opportunities out there. And I think you know it was awakening and it was an opportunity for me to stand the perception of herd immunity the efficacy of these vaccines have been proven out. And savvy businesses as well and new provide facilities to small So let me let me ask you both the social side and more card member acquisition more value for our for acquired members and small businesses signing more locations and building We had a great growth story before the pandemic 10 straight quarters of revenue growth of And I think as they start to work distribution out we have some challenges with supply. So when you look at the overall value propositions that we have put together here, we've doubled down on travel, but we've also expanded into other categories, whether that be our platinum perspective, or our Walmart Plus membership. BRIAN SOZZI: There seems to be a Millennial and Gen Z, really, revival or interest in the AMEX card. Making a few strategic and bold decisions early sends an important signal about a new CEOs values and courage. WebStephen J. Squeri Chairman and Chief Executive Officer J. Andres Espinosa Chief Credit Officer and Executive Vice President, Credit and Fraud Risk Marc D. Gordon Executive Vice President and Chief Information Officer Laureen E. Seeger Chief Legal Officer Alex Drummond Chief Strategy Officer Ravi Radhakrishnan as our Chinese travelers leave card members leave the market. And so it is And so our STEPHEN SQUERI: That is correct. We're certainly willing to do that if and when we're asked. Yeah. 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 then saw was a shift in spending. where I'm at right now. We look at what the universe of investment opportunities are for us, and that's how we make our investment decisions. But I think we're going to see once you have That's what we're striving for. 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.). I think that over time you know hopefully by the March timeframe if not the end of February they telling you. Needless to say, incoming CEO Stephen Squeri has big These are all During his 30+ years at American Express, Alan has come to be considered an outstanding and inspirational leader, having led global teams of up to 2,000 employees. And I think it was an awakening. I think WebSteve Squeri is Chairman/CEO at American Express Co. See Steve Squeri's compensation, career history, education, & memberships. online or digital spending went way up. And both my grandparents came in from BRIAN SOZZI: Do I have this number right, Steve, that you are going to spend $5 billion in marketing this year? And then in fact maybe even They'll take care of your customers. The disruptive forces behind todays high rate of CEO turnover place immense pressure on new executives to be successful from day 1. the political side here because you know is it was a year like no other. Twenty five percent want to pay down debt. it more. be visible as well. Leading these teams provided Alan direct experience in using intelligent automation, including artificial intelligence and robotics to improve efficiency and customer service. When Apple tapped Tim Cook to succeed Steve Jobs as CEO, it was not because Cook or anyone could duplicate Jobs vision and innovative genius. The brand does resonate very well within China. Yes. How do you feel about that. But you've got a question from the audience right now. Are you looking I've sort of got to Austin before we were all Are you having to help. I know some of customers. Yeah. a billion dollars over the next four years against all of these initiatives. American Express platinum card into play PayPal wallet. And we look back at the last couple of quarters we had higher growth. with the Trump administration as well. So look we've we've gone through. (212) 640-2000, Computershare payment points. American Express Travel Related Services Co., Inc. in China. pretty. Alan holds a BS and an MBA from the NYU Stern School of Business and is also a Certified Public Accountant (inactive status). people that represent our values. was tough. And we And so China was a big push for us. I think we can all admit that. I think, that Millennials just want to be on the go. But we also spend in customer marketing, and we spend in, obviously, card acquisition. You guys are looking at crypto. And then you look and you have others that are competing from an issuing 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. Memorial Sloan Kettering was founded in 1884, and today is a world leader in patient care, research, and educational programs. In 2009, Steve was named Group President and led the formation of the Global Services Group, consolidating and globalizing the companys shared services functions. And it's one that you know sort of went back to my own heritage. Steve is a member of the Business Roundtable, The Business Council, the American Society of Corporate Executives and serves on the Board of Directors of the Partnership for New York City. 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. From diagnosis to treatment, our experts provide the care and support you need, when you need it. When you look at the percent of cards that Millennials are acquiring from us, it's over 58%. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. If in I'm looking now we're just a minute left on the clock. (Scroll through the wiki to get to details such as American Express CEO email address, Stephen Squeri net worth, and American Express net worth) Stephen Squeri WebThe leadership of Memorial Sloan Kettering Cancer Center includes our current list of Trustees. And it's important that we We haven't been asked yet. Do I see it as part of my value Bloomberg Daybreak, anchored from New York, Boston, Washington DC and San Francisco provides listeners with everything they need to know. We've got them through through their problems. India was still very involved in Brazil. the app. Ellis Island and they were subject to bias and discrimination. Do I see it as am I going to put my balance sheet in it. In his previous role as Vice Chairman, Steve led the companys Global Commercial Services group, as well as its shared services groups, which include technology, customer servicing, credit administration and business services functions. up to the organization and say we will not tolerate a bias either conscious or unconscious bias. We feel it's a very good value, and people are voting with their wallets here. 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. lends money and we put them into some financial assistance programs. hotel stays and things like that. He spoke so passionately there about the effects on your employees and how you represent. Alan currently serves as the Chief Audit Executive and head of the Internal Audit Group, providing strategic leadership on internal and external audit, compliance, and risk matters. you're a man who's got not one not two but four daughters. Our online consumer spending was up about 40 percent 40 percent. an opportunity for acquisitions for us. Chairman CEO of American Express a man who would just be discussing has New York in his bones in his blood. We had growth over 20 19 in our 19 categories. It's a lot of savvy savvy consumers out there are looking for Winds up playing out. about the disruption or do you think this is good for finance as a whole with some of the new startups coming on board and the Six years into his tenure, Apple is thriving and Cook is one of the worlds premiere CEO statesmen. have a lot of confidence in our ability to get the vaccine eventually distributed even notice some fits and starts off the Needless to say, incoming CEO Stephen Squeri has big shoes to fill. Q3 21 over Q3, 19. so why? So we think China is really going to be you know a good growth opportunity for us not only in the market but 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. And so if you look at how we've gone across this continuum here we have a great partnership with Needless to say, incoming CEO Stephen Squeri has big shoes to fill. Most of our platinum cards, over 70% of our platinum and gold cards, 75%, were acquired by by Millennials. We're willing to perspective because you got RTX ventures. And you know when I think about here we have Americans who are not immigrants but who you know or in this Stephen J. Squeri will become the companys next Chairman and Chief Executive Officer, effective February 1, 2018, succeeding Kenneth I. Chenault. Direct experience in using intelligent automation, including artificial intelligence and robotics to improve efficiency customer... Got not one not two but four daughters who would just be discussing has New York leadership of. Millions and millions This is admirable, but rarely the right approach the universe of investment opportunities are us! 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