AmEx Cuts CEO's Pay 26% to Lowest Since 2008 as Stock Slides
- CEO Ken Chenault awarded $18.5 million for work in 2015
- AmEx shares tumbled 25% last year as net income fell 12%
Kenneth Chenault.
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American Express Co. cut Chief Executive Officer Kenneth Chenault’s pay 26 percent to the lowest level since 2008 after the credit-card lender’s stock and profit slumped last year.
The board awarded him $18.5 million for 2015, according to a filing on Monday. Chenault, the company’s leader since 2001, has ranked among the U.S. financial industry’s highest paid CEOs in recent years, with a $25.1 million package for 2014.