Wednesday July 30, 2014

American Express Shareholders Reject Proposal to Split Chairman, CEO Roles

American Express shareholders rejected a proposal to separate Kenneth Chenault’s chairman and CEO roles.

“American Express shareholders on Monday rejected a proposal to separate the roles of chairman and chief executive held by Kenneth Chenault,” confirms 4-Traders.com. Roughly 77 percent of the shares cast by stockholders were against the proposal, which had been submitted by activist shareholder Kenneth Steiner. Also on Monday, American Express shareholders approved a slate of 13 director nominees to the credit-card giant’s board. A majority also voted in favor of the company’s executive compensation via a “say on pay” advisory vote.

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