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Kenneth Chenault

From Wikipedia, the free encyclopedia
Ken Chenault
Chenault in 2012
Born
Kenneth Irvine Chenault

(1951-06-02) June 2, 1951 (age 73)
Mineola, New York, U.S.
EducationBowdoin College (BA)
Harvard University (JD)
TitleFormer Chairman and CEO of American Express[1][2]
SpouseKathryn Chenault
Children2

Kenneth Irvine Chenault (born June 2, 1951) is an American businessman who served as chairman and chief executive officer (CEO) of American Express (AMEX) from 2001 to 2018.[3][4] When he was named AMEX chair, he became the third Black CEO of a Fortune 500 company.[5] Since 2018, he has served as chairman and managing director of General Catalyst, a venture capital firm.[6]

Early life and education

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Chenault, who is of African American heritage, was born in Mineola, New York.[7] His mother, Anne N. Quick Chenault, was a dental hygienist,[8] and his father, Dr. Hortenius Chenault, was a dentist,[8] who graduated from Morehouse College and Howard University College of Dentistry,[9] and passed the New York State dental exam with the highest score ever recorded as of January 2014.[9]

He attended the Waldorf School of Garden City,[10] where he was senior class president.[7] He received a B.A. in history from Bowdoin College in 1973, and was awarded the Bowdoin Prize, the "highest honor the College bestows upon its members" in 2022.[11] After Bowdoin, Chenault attended Harvard Law School, where he received his J.D. in 1976.[12][13]

Career

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Chenault began his career as an associate at the law firm Rogers & Wells (1977–1979) in New York City, and as a consultant for Bain & Company (1979–1981).[14][15]

American Express

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Chenault worked 37 years at American Express, a financial services corporation and bank holding company.[6] He joined the company in 1981, working in its Strategic Planning Group.[16] He became president and chief operating officer in 1997.[16] He became CEO of American Express in 2001.[17]

As CEO of American Express in 2007 and 2008, Chenault earned a total compensation of $50,126,585[18] and $42,752,461[19] respectively. In 2009, he earned a total compensation of $16,617,639, which included a base salary of $1,201,923, a cash bonus of $10,450,000, an option grant of $3,985,637, and other compensation worth $980,079.[20] In 2016, Chenault earned a total compensation of $22 million.[21]

On November 15, 2010, Old North Foundation recognized Chenault with its Third Lantern Award for individual commitment and dedication to public service. The Foundation honored Chenault and American Express for their significant contributions to the preservation efforts of many significant monuments and landmark structures, including the steeple of the Old North Church.[22]

On October 18, 2017, he announced that he would retire as its chairman and chief executive on February 1, 2018. He was succeeded by Stephen J. Squeri.[23]

General Catalyst

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In January 2018, Chenault announced he would become chairman and managing director of General Catalyst Partners.[24]

Board affiliations

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Chenault has sat on several boards throughout his career. Beginning in 2007, he was on the executive committee of the Business Roundtable[25][26] and a member of the Council on Foreign Relations.[27]

In 2011 and 2012, Chenault was a member of the executive committee of The Business Council.[28]

On February 10, 2014, it was announced that he had been elected to fill a vacated seat of the Harvard Corporation; the Corporation is the chief fiduciary authority of the university and is the smaller of the two governing boards, the other being the Harvard Board of Overseers.[14][12]

On February 6, 2017, Chenault was named chair of the advisory council for the Smithsonian's National Museum of African American History and Culture.[29]

In 2018, he joined the board of directors of Airbnb.[30]

From February 2018 to March 2020, he served on the board of directors of Facebook.[30][31][32]

In December 2018, it was announced that Chenault would step down from his board roles at IBM and Procter & Gamble on February 13, 2019.[33]

In April 2019, he was appointed as a member of the NCAA's Board of Governors.[34]

In March 2020, he joined the board of Berkshire Hathaway, replacing Bill Gates.[35][36]

He is a co-founder of OneTen, a non-profit organization that creates job opportunities for individuals without four year degrees.[6][37]

He is a board member of National September 11 Memorial and Museum at the World Trade Center, Bloomberg Philanthropies, the Council on Foreign Relations, the Human Centered Artificial Intelligence Institute Advisory Council at Stanford University, and NYU Langone Health.[6]

Philanthropy

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Chenault and wife, Kathryn, are founding donors to the Art for Justice Fund, which aims to reduce prison populations and strengthen employment opportunities for those leaving.[38]

Personal life

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Chenault and his family reside in New York City.[6][39] Chenault is a member of Westchester Country Club.[40]

Honors and awards

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References

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  1. ^ "American Express CEO Ken Chenault: 'There's a $25 trillion opportunity'". fortune.com. Retrieved 2015-08-09.
  2. ^ "An interview with Kenneth Chenault, CEO at American Express". london.edu. Retrieved 2015-08-09.
  3. ^ "Board of Directors and Executive Officers". American Express. Archived from the original on 2006-10-21. Retrieved 2007-05-11.
  4. ^ "Kenneth I Chenault profile". Forbes. Archived from the original on December 24, 2007. Retrieved 2007-05-11.
  5. ^ Black History Month: Kenneth Chenault. David Eccles School of Business, University of Utah.
  6. ^ a b c d e [https://www.generalcatalyst.com/team/ken-chenault Ken Chenault. Chairman & Managing Director. Investment Team.] General Catalyst.
  7. ^ a b "Kenneth Chenault Biography – Facts, Birthday, Life Story". Biography.com. 1951-06-02. Archived from the original on 2012-07-23. Retrieved 2012-03-20.
  8. ^ a b Kenneth Irvine Chenault: Former CEO of American Express. Black Business Ventures Association.
  9. ^ a b "Chenault, Hortenius · Notable Kentucky African Americans Database". nkaa.uky.edu. Retrieved 2025-04-03.
  10. ^ lived in the incorporated village of Hempstead."Ken Chenault: The Rise of a Star" Business Week Dec. 21, 1998
  11. ^ a b Bowdoin News (November 3, 2022). The Bowdoin Prize: Kenneth I. Chenault ’73, H’96 Receives College’s Highest Honor. Bowdoin College.
  12. ^ a b "Kenneth Chenault and Karen Gordon Mills to join Harvard Corporation". 10 February 2014.
  13. ^ HLS News Staff (December 6, 2011). Leadership Profile: A Conversation with Kenneth I. Chenault ’76. Harvard Law Bulletin. Winter 2011.
  14. ^ a b "Kenneth Chenault: Corporate CEO". CNN. February 2002. Archived from the original on 2007-02-19. Retrieved 2007-05-11.
  15. ^ "Kenneth I. Chenault". whitehouse.gov. Archived from the original on 22 January 2017. Retrieved 25 February 2013 – via National Archives.
  16. ^ a b Bianco, Anthony (December 21, 1998). "KEN CHENAULT: THE RISE OF A STAR". Business Week. Archived from the original on October 4, 1999. Retrieved 2007-05-11.
  17. ^ Moyer, Liz (2017-10-18). "American Express CEO Ken Chenault to leave after 17-year run". CNBC. Retrieved 2018-01-25.
  18. ^ 2007 CEO Compensation for Kenneth I. Chenault Archived 2009-04-14 at the Wayback Machine, Equilar
  19. ^ 2008 CEO Compensation for Kenneth I. Chenault Archived 2009-04-14 at the Wayback Machine, Equilar
  20. ^ 2009 CEO Compensation for Kenneth I. Chenault Archived 2009-04-14 at the Wayback Machine, Equilar
  21. ^ "American Express Lifts Chenault's Pay 19% to $22 Million for '16". Bloomberg.com. 2017-03-20. Retrieved 2018-01-28.
  22. ^ "Kenneth Chenault, American Express Chairman and CEO Receives". Bloomberg. Retrieved 12 March 2013.
  23. ^ Andriotis, AnnaMaria (2017-10-18). "American Express CEO Kenneth Chenault to Step Down After 16 Years". Wall Street Journal. ISSN 0099-9660. Retrieved 2018-01-31.
  24. ^ Sorkin, Andrew Ross (2018). "For His Next Act, Ken Chenault Turns His Focus on Silicon Valley". The New York Times. ISSN 0362-4331. Retrieved 2018-02-23.
  25. ^ "About us: Officers". Business Roundtable. Archived from the original on 2007-02-02. Retrieved 2007-05-11.
  26. ^ "Business Roundtable". www.businessroundtable.org. Retrieved 2019-11-18.
  27. ^ See for example the transcript of a luncheon over which he presided: "New Realities in the Media Age: A Conversation with Donald Rumsfeld". Council on Foreign Relations. February 17, 2006. Archived from the original on August 10, 2008. Retrieved 2007-05-11.
  28. ^ The Business Council, Official website, Executive Committee Archived 2013-07-21 at the Wayback Machine
  29. ^ "National Museum of African American History and Culture Names Kenneth I. Chenault Chairman of its Advisory Council". National Museum of African American History and Culture. 2017-02-06. Retrieved 2019-03-19.
  30. ^ a b Carson, Biz. "Airbnb Adds Outgoing American Express CEO Kenneth Chenault To Board of Directors". Forbes. Retrieved 2018-06-05.
  31. ^ "Investor Relations". Facebook. Retrieved May 6, 2018.
  32. ^ Black Enterprise: March, 13, 2020: Kenneth Chenault leaves Facebook board as he is appointed to board of Berkshire Hathaway
  33. ^ "Former AmEx Chief Ken Chenault Leaves Director Posts at P&G, IBM". Bloomberg. 27 December 2018. Retrieved 2019-01-09.
  34. ^ "NCAA adds 5 independent voices to Board of Governors". Washington Post. April 30, 2019. Archived from the original on May 13, 2019. Retrieved 2019-05-13.
  35. ^ Reuters: March, 13, 2020:
  36. ^ Black Enterprise: March, 13, 2020: Kenneth Chenault leaves Facebook board as he is appointed to board of Berkshire Hathaway
  37. ^ OneTen.
  38. ^ Pogrebin, Robin (2017-06-11). "Agnes Gund Sells a Lichtenstein to Start Criminal Justice Fund". The New York Times. ISSN 0362-4331. Retrieved 2017-09-20.
  39. ^ Sexton, Julia (2009-01-23). "Westchester Magazine". Westchester Magazine. Archived from the original on 2011-07-18. Retrieved 2012-03-20.
  40. ^ "Ken Chenault Net Worth | How rich is Ken Chenault?". www.celebritynews24-7.com. Archived from the original on 2018-01-10.
  41. ^ "50 who changed America – influential African Americans". Ebony. November 1995. Archived from the original on 2007-07-02. Retrieved 2007-05-11.
  42. ^ "Commencement Speech at Howard University". Howard.edu. 2008-05-10. Retrieved 2012-03-20.
  43. ^ American Express CEO to deliver address, Window on Wake Forest, March 22, 2010. Accessed 2010-03-22.
  44. ^ May commencement speakers announced Archived 2010-03-25 at the Wayback Machine, Northeastern University, March 22, 2010. Accessed 2010-03-23.
  45. ^ Haynes, Danielle (September 15, 2021). "Prince Harry, Meghan Markle, Simone Biles top TIME 100 list". UPI. Retrieved November 13, 2021.
  46. ^ "Here's who's scheduled to speak at the DNC on Tuesday". Chicago Sun-Times. 2024-08-20. Retrieved 2024-08-21.
  47. ^ Hoffman, Liz (2024-10-01). "Ex-Amex CEO Ken Chenault is a top candidate for jobs in a Harris administration". Semafor. Retrieved 2024-10-02.
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Business positions
Preceded by CEO of American Express
2001–2018 		Succeeded by
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