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. When he was named AMEX chair, he became the third Black CEO of a
Fortune 500
The ''Fortune'' 500 is an annual list compiled and published by ''Fortune (magazine), Fortune'' magazine that ranks 500 of the largest United States Joint-stock company#Closely held corporations and publicly traded corporations, corporations by ...
African American
African Americans, also known as Black Americans and formerly also called Afro-Americans, are an Race and ethnicity in the United States, American racial and ethnic group that consists of Americans who have total or partial ancestry from an ...
heritage, was born in
Mineola, New York
Mineola is a Administrative divisions of New York#Village, village and the county seat of Nassau County, New York, Nassau County, on Long Island, Long Island, New York, United States. The population was 20,800 at the time of the 2020 United Stat ...
. His mother, Anne N. Quick Chenault, was a dental hygienist, Kenneth Irvine Chenault: Former CEO of American Express. Black Business Ventures Association. and his father, Dr. Hortenius Chenault, was a dentist, who graduated from
Morehouse College
Morehouse College is a Private college, private, Historically black colleges and universities, historically black, Men's colleges in the United States, men's Liberal arts colleges in the United States, liberal arts college in Atlanta, Georgia, ...
New York
New York most commonly refers to:
* New York (state), a state in the northeastern United States
* New York City, the most populous city in the United States, located in the state of New York
New York may also refer to:
Places United Kingdom
* ...
State dental exam with the highest score ever recorded as of January 2014.
He attended the
Waldorf School
Waldorf education, also known as Steiner education, is based on the educational philosophy of Rudolf Steiner, the founder of anthroposophy. Its educational style is holistic, intended to develop pupils' intellectual, artistic, and practical ski ...
of Garden City, where he was senior class president. He received a B.A. in history from
Bowdoin College
Bowdoin College ( ) is a Private college, private liberal arts colleges in the United States, liberal arts college in Brunswick, Maine. It was chartered in 1794.
The main Bowdoin campus is located near Casco Bay and the Androscoggin River. In a ...
Harvard Law School
Harvard Law School (HLS) is the law school of Harvard University, a Private university, private research university in Cambridge, Massachusetts. Founded in 1817, Harvard Law School is the oldest law school in continuous operation in the United ...
Chenault began his career as an associate at the law firm Rogers & Wells (1977–1979) in
New York City
New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive w ...
, and as a consultant for
Bain & Company
Bain & Company is an American management consulting company headquartered in Boston, Massachusetts. The firm provides advice to public, private, and nonprofit organizations. One of the Big Three (management consultancies), Big Three management co ...
(1979–1981).
American Express
Chenault worked 37 years at American Express, a financial services corporation and bank holding company. He joined the company in 1981, working in its Strategic Planning Group. He became
president
President most commonly refers to:
*President (corporate title)
* President (education), a leader of a college or university
*President (government title)
President may also refer to:
Arts and entertainment Film and television
*'' Præsident ...
and
chief operating officer
A chief operating officer (COO), also called chief operations officer, is an executive in charge of the daily operations of an organization (i.e. personnel, resources, and logistics). COOs are usually second-in-command immediately after the C ...
in 1997. He became CEO of American Express in 2001.
As CEO of American Express in 2007 and 2008, Chenault earned a total compensation of $50,126,585 and $42,752,461 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. In 2016, Chenault earned a total compensation of $22 million.
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.
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.
General Catalyst
In January 2018, Chenault announced he would become chairman and managing director of General Catalyst Partners.
Board affiliations
Chenault has sat on several boards throughout his career. Beginning in 2007, he was on the executive committee of the Business Roundtable and a member of the
Council on Foreign Relations
The Council on Foreign Relations (CFR) is an American think tank focused on Foreign policy of the United States, U.S. foreign policy and international relations. Founded in 1921, it is an independent and nonpartisan 501(c)(3) nonprofit organi ...
.
In 2011 and 2012, Chenault was a member of the executive committee of
Harvard Corporation
The President and Fellows of Harvard College, also called the Harvard Corporation or just the Corporation, is the smaller and more powerful of Harvard University's two governing boards. It refers to itself as the oldest corporation in the Western ...
; 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
The Harvard Board of Overseers (more formally The Honorable and Reverend the Board of Overseers) is an advisory board of alumni at Harvard University. Unlike the Harvard Corporation, the Board of Overseers is not a fiduciary governing board, but in ...
.
On February 6, 2017, Chenault was named chair of the advisory council for the Smithsonian's
National Museum of African American History and Culture
The National Museum of African American History and Culture (NMAAHC), colloquially known as the Blacksonian, is a Smithsonian Institution museum located on the National Mall in Washington, D.C., in the United States. It was established in 2003 an ...
.
In 2018, he joined the board of directors of
Airbnb
Airbnb, Inc. ( , an abbreviation of its original name, "Air Bed and Breakfast") is an American company operating an online marketplace for short-and-long-term homestays, experiences and services in various countries and regions. It acts as a ...
.
From February 2018 to March 2020, he served on the board of directors of
Facebook
Facebook is a social media and social networking service owned by the American technology conglomerate Meta Platforms, Meta. Created in 2004 by Mark Zuckerberg with four other Harvard College students and roommates, Eduardo Saverin, Andre ...
.
In December 2018, it was announced that Chenault would step down from his board roles at
IBM
International Business Machines Corporation (using the trademark IBM), nicknamed Big Blue, is an American Multinational corporation, multinational technology company headquartered in Armonk, New York, and present in over 175 countries. It is ...
and
Procter & Gamble
The Procter & Gamble Company (P&G) is an American multinational consumer goods corporation headquartered in Cincinnati, Ohio. It was founded in 1837 by William Procter and James Gamble. It specializes in a wide range of personal health/con ...
on February 13, 2019.
In April 2019, he was appointed as a member of the NCAA's Board of Governors.
In March 2020, he joined the board of
Berkshire Hathaway
Berkshire Hathaway Inc. () is an American multinational conglomerate holding company headquartered in Omaha, Nebraska. Originally a textile manufacturer, the company transitioned into a conglomerate starting in 1965 under the management of c ...
, replacing Bill Gates.
He is a co-founder of OneTen, a non-profit organization that creates job opportunities for individuals without four year degrees.
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.
Philanthropy
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.
Personal life
Chenault and his family reside in New York City. Chenault is a member of
Westchester Country Club
Westchester Country Club is a private country club located in Harrison, New York. Founded in 1922 as a destination for sportsmen, it was known to professional golfers and spectators for more than four decades as the home of the Westchester Cla ...
.
Honors and awards
* 1995 -- ''
Ebony
Ebony is a dense black/brown hardwood, coming from several species in the genus '' Diospyros'', which also includes the persimmon tree. A few ''Diospyros'' species, such as macassar and mun ebony, are dense enough to sink in water. Ebony is fin ...
'' listed him as one of 50 "living pioneers" in the African-American community.
* 1996 -- Honorary degree from Bowdoin College, his alma mater.
* 2002 -- Junior Achievement U.S. Business Hall of Fame
* 2008 -- Commencement speaker,
Howard University
Howard University is a private, historically black, federally chartered research university in Washington, D.C., United States. It is classified among "R1: Doctoral Universities – Very high research activity" and accredited by the Mid ...
.
* 2010 -- Commencement speaker,
Wake Forest University
Wake Forest University (WFU) is a private research university in Winston-Salem, North Carolina, United States. Founded in 1834, the university received its name from its original location in Wake Forest, north of Raleigh, North Carolina. The R ...
* 2010 -- Commencement speaker,
Northeastern University
Northeastern University (NU or NEU) is a private university, private research university with its main campus in Boston, Massachusetts, United States. It was founded by the Boston Young Men's Christian Association in 1898 as an all-male instit ...
Time
Time is the continuous progression of existence that occurs in an apparently irreversible process, irreversible succession from the past, through the present, and into the future. It is a component quantity of various measurements used to sequ ...
''s annual list of the 100 most influential people in the world.
* 2024 -- Speaker,
2024 Democratic National Convention
The 2024 Democratic National Convention was a United States presidential nominating convention, presidential nominating convention in which delegates of the Democratic Party (United States), United States Democratic Party
voted on their party ...
in support of
Kamala Harris
Kamala Devi Harris ( ; born October 20, 1964) is an American politician and attorney who served as the 49th vice president of the United States from 2021 to 2025 under President Joe Biden. She is the first female, first African American, and ...
and
Tim Walz
Timothy James Walz (; born April 6, 1964) is an American politician who has served since 2019 as the 41st governor of Minnesota. He was the Democratic Party (United States), Democratic nominee for Vice President of the United States, vice pre ...