Friday November 28, 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 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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