American Express Company · NYSE:AXP
American Express — Shareholder Meeting (April 2024)
16 slides from American Express's shareholder meeting presentation, Apr 1, 2024
Slide 1: American Express Company proxy statement filing cover
AMERICAN EXPRESS COMPANY (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check all boxes that apply): ☒ No fee required. ☐ Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. ☐ Fee p
Slide 2: Spring 2024 Investor Engagement
April 2024 SPRING 2024 INVESTOR ENGAGEMENT American Express Company
Slide 3: Committed to ongoing shareholder engagement
We are committed to ongoing shareholder engagement to understand their perspectives and priorities and to inform our decision-making. Executive Summary Strategic Imperatives Executive Compensation Governance Corporate Sustainability / ESG Our strategic imperatives and enterprise-wide initiatives are
Slide 4: Our Strategic Imperatives
Our Strategic Imperatives… Expand leadership in the premium consumer space Build on our strong position in commercial payments Strengthen our global, integrated network Build on our unique global position 3 We are a leader in providing credit and charge cards to a broad range of customers, including
Slide 5: Competitive advantages of our business model
…are based on the competitive advantages of our business model... 4 Brand Strength Service Excellence Membership Model Lifestyle & Business- Centric Assets Premium Customer Base at Scale MerchantsCard Members AnalyticsData Technology
Slide 6: Strong momentum in 2023: FY 2023 Financial Performance
5 We continued to see strong momentum in 2023 FY 2023 Financial Performance $8.4B NET INCOME $11.21 EPS(2) $5.3B TOTAL CAPITAL RETURNED TO SHAREHOLDERS 12.2M NEW PROPRIETARY CARDS ACQUIRED 141M CARDS-IN-FORCE 1) Total Revenues Net of Interest Expense adjusted for FX is a non-GAAP measure. FX-adjuste
Slide 7: Our Compensation Program and Our Commitment to Shareholders
We continue to engage with our shareholders to solicit and consider feedback in addition to focusing on the following: Aligning our executive compensation programs with the Company’s strategic goals and long-term success Engaging with stakeholders and actively incorporating feedback from shareho
Slide 8: 2023 compensation decisions and performance
4% 30% 53% 13% Base Salary AIA PRSU Stock Options • CBC continues to approve compensation decisions with a focus on aligning executive pay with company performance and its long-term growth plan The 2023 Annual Incentive Award (AIA) Company Multiplier of 130% reflects significant outperformance aga
Slide 9: 2023 Shareholder Feedback: What We Heard
2023 Shareholder Feedback What We Heard 2022 Special Award The use of special awards is disfavored, particularly for the CEO The award lacked sufficiently rigorous performance conditions or rationale that would have mitigated concerns, and the measurement period for TSR should have been for a longer
Slide 10: How We Have Responded to Shareholder Feedback
How We Have Responded to Shareholder Feedback 9 2024 Proxy Disclosures and Responsiveness to 2023 Say-on-Pay Vote •Special Awards will no longer be awarded for Mr. Squeri •No Special Awards granted through 2023 to other NEOs and none are currently being considered •No changes to CEO target pay for 2
Slide 11: Our Director Nominees
Our Director Nominees 10 Walter J. Clayton III Senior Policy Advisor and Of Counsel, Sullivan & Cromwell LLP Committee Memberships: • Audit and Compliance (Chair) • Nominating, Governance and Public Responsibility Thomas J. Baltimore Chairman and CEO, Park Hotels & Resorts, Inc. Committee Membership
Slide 12: Director Nominee Composition Snapshot
Core Bus ines s , Opera t ions & Ma nagem ent (including Human Capital Management) Public Com pany Governance Te chnology & Cybers ecurity Governm ent , Le ga l / Re gulatory Financia l Se rvices & Inves tment Experience Public Com pany CEO Experience Ris k a nd Audit Overs ight Brand a nd Marke t i
Slide 13: Our ESG Governance Framework
12 Our ESG Governance Framework MISSION: BACK PEOPLE AND BUSINESSES TO THRIVE AND CREATE EQUITABLE, RESILIENT, AND SUSTAINABLE COMMUNITIES GLOBALLY PROMOTE DIVERSITY, EQUITY, & INCLUSION ESG DISCLO- SURES CLIMATE RISK MGMT. ESG STEERING COMMITTEE EXECUTIVE COMMITTEE ENTERPRISE RISK MANAGEMENT COMMIT
Slide 14: Highlights of Our Progress in 2022-2023
Highlights of Our Progress in 2022-2023 13 Recycled or reclaimed plastic cards In 2022, we set a goal for the vast majority of plastic cards issued by American Express to be made from at least 70% recycled or reclaimed plastic by the end of 2024. In 2022 and 2023, we continued to expand cards made f
Slide 15: Forward-looking statements
This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. You can identify forward-looking statements by words such as “expect,” “anticipate,” “intend,” “plan,” “aim,” “pledge,
Slide 16: American Express
AMERICAN EXPRESS