AmEx’s Kelly to step down after two years in top job
AMERICAN Express said yesterday that Alfred Kelly will step down as its president early next year to seek a chief executive role elsewhere.
“In the context of discussions we have had about longer-term plans for the organisation, Kelly made clear to me that he wanted the opportunity to run a company as chief executive,” said American Express chief executive Kenneth Chenault.
“Given my own plans for the coming years, we both agreed that was not likely to happen at American Express in the short term.”
Kelly joined American Express in 1987 and in recent years has been responsible for the company’s consumer and small business card franchise. He has been president for the last two years.
Analysts said it was unlikely Kelly would get the chief executive post at Bank of America, which has said that boss Kenneth Lewis will leave the company by year-end.
American Express, the largest credit card company by revenue, also announced the creation of a new global services organisation and a new enterprise growth organisation to increase fee revenue.
Steve Squeri, who has been in charge of technologies and corporate development, will lead the global services group. American Express said it was recruiting a manager from outside to lead the enterprise growth division.