Who has been appointed as the new Chief Financial Officer (CFO) of American Express?

Jeffrey C. Campbell has been appointed as the new Executive Vice President and Chief Financial Officer of American Express.

When will Mr. Campbell's appointment as CFO become effective?

Mr. Campbell's appointment will be effective as of the business day following the filing of American Express's Form 10-Q for the quarter ending June 30, 2013.

What is the total compensation package for the new CFO?

Mr. Campbell's compensation package includes an annual base salary of $1,000,000, eligibility for an annual incentive award with a guidance value of $3,500,000, portfolio and long-term incentive awards totaling $1,500,000 and $2,500,000 respectively, a $5,000,000 sign-on grant in equity, and a $4,000,000 sign-on cash award.

What is Mr. Campbell's background before joining American Express?

Mr. Campbell has a strong financial background, having served as Executive Vice President and CFO of McKesson Corporation since 2004. Prior to that, he held CFO and Vice President roles at AMR Corp (parent of American Airlines) and various other positions at American Airlines.

AXP 8-K: Leadership Changes

Summary

American Express Company (AXP) announced a significant change in its executive leadership through an 8-K filing on June 20, 2013. The company appointed Jeffrey C. Campbell as its new Executive Vice President and Chief Financial Officer (CFO), effective shortly after the filing of their Q2 2013 10-Q. Mr. Campbell brings a wealth of experience, having previously served as CFO for McKesson Corporation and AMR Corp (parent of American Airlines), along with various management roles within American Airlines. His appointment signals a strategic move to bolster the company's financial leadership with a seasoned executive. The filing also details the comprehensive compensation package offered to Mr. Campbell, reflecting the company's efforts to attract and retain top talent for this critical role. This includes a substantial base salary, annual incentive and long-term incentive awards, significant sign-on grants in restricted stock units and stock options, and a notable cash award. Investors should note that these awards are subject to performance conditions and vesting schedules, aligning Mr. Campbell's compensation with the company's long-term success and shareholder value.

Key Highlights

1Appointment of Jeffrey C. Campbell as Executive Vice President and Chief Financial Officer (CFO) of American Express Company.
2Mr. Campbell's effective date as CFO is set for the business day following the filing of the Q2 2013 Form 10-Q.
3Mr. Campbell possesses extensive financial leadership experience, including prior CFO roles at McKesson Corporation and AMR Corp.
4Annual base salary for Mr. Campbell will be $1,000,000.
5Eligibility for significant annual incentive and long-term incentive awards, with target values of $3,500,000 and $2,500,000, respectively.
6A substantial sign-on package includes restricted stock units, stock options valued at $5,000,000, and a $4,000,000 cash award.
7The compensation package includes performance conditions and vesting schedules for equity awards, aligning with executive performance and company success.

AMERICAN EXPRESS CO 8-K Report, Executive Changes (Jun 21, 2013)

Summary

Key Highlights

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