American Express Appoints New CFO
(4 July 2023 – United States) American Express Chief Financial Officer (CFO) Jeffrey Campbell is stepping down to be replaced by Deputy CFO Christophe Le Caillec.
Mr Campbell will retire from his CFO role over the last decade next month, staying on with the group as vice chairman until March 2024. Mr Le Caillec has held senior roles with American Express for the last 25 years, currently heading up the corporate planning team in conjunction with risk, technology and the global services group finance functions.
In his current role as Deputy CFO, Mr Le Caillec works closely with American Express CEO Stephen J Squeri and Mr Campbell to drive the company’s financial success in executing the growth plan.
Mr Le Caillec is facing mounting headwinds in the form of rising interest rates and elevated inflation, forcing the firm to allocate greater capital to cover potential defaults. Higher prices are rapidly raising cost of living pressure on consumers, leading to a deterioration in payments companies outlooks generally as major spending decisions are curtailed.
“On behalf of the Board, the Executive Committee and the entire company, I am incredibly grateful for Jeff’s partnership, strategic counsel and friendship over the past ten years” said American Express CEO and Chairman, Stephen J Squeri.
“I am humbled by this opportunity and energised to work with this incredible team to continue to drive the company’s success. I join my colleagues from across American Express in wishing Jeff well in his next chapter” Mr Le Caillec stated.