American Express Co., the biggest credit-card issuer by purchases, said Chief Financial Officer Daniel T. Henry is retiring later this year.
Henry, who turns 64 this year, will remain in the job while the company searches for a successor, which could take a couple of months, New York-based American Express said today in a statement.
“We decided that now was the right time to begin the transition,” Chief Executive Officer Kenneth Chenault said in the statement. “We have agreed on a timetable and arrangement that will ensure a smooth transition, giving us the flexibility to search for a new chief financial officer while continuing to benefit from Dan’s leadership.”
Henry joined American Express in 1990 from Ernst & Young LLP and was named CFO in 2007, according to the statement. Before taking over the top finance job, he led the team that supported the firm’s U.S. Consumer, Small Business and Merchant Services Group and served as corporate comptroller, the company said.