American Express Exec Goeltz Quits
Thursday July 29 4:01 PM ET
NEW YORK (AP) - American Express Co. (NYSE:AXP - news) said Thursday its vice chairman and chief financial officer, Richard Goeltz, will retire from the credit card company.
Goeltz, 57, joined American Express three years ago from National Westminster Bank PLC (NYSE:NW - news). He will stay on until a replacement is found, and will help screen candidates for his successor.
''While I will miss his advice and counsel, I understand his desire to do other things after a long and successful corporate career,'' wrote Harvey Golub, chairman and chief executive of American Express, in a letter to employees.
The news comes just three months after Golub, 60, announced his own plans to retire. He named Ken Chenault, one of the top black executives in America, as his successor.
Michael O'Neill, a spokesman for American Express, said Goeltz's departure was ''unrelated'' to the changes in the top suite at the credit card company.
Goeltz was unavailable for comment.
Shares of American Express was off $4.50 to $136.75 in late trading on the New York Stock Exchange. |
