Chenault Stepping Down as CEO of American Express

The transcript discusses American Express's recent challenges and competition from firms like JP Morgan and PayPal. It highlights the company's stock performance, recovery, and leadership transition. The appointment of a long-time insider as the new leader is seen as a move towards stability and continuity. The discussion also touches on the evolving business landscape, including the growing importance and cost of rewards programs and competition from fintech firms.

What challenges has Amex faced in recent years according to the text?

How did the stock performance of Amex change from early 2016 to the present?

What was the significance of the Costco deal mentioned in the text?

What does the appointment of a long-time insider suggest about Amex's current strategy?

In what ways are rewards becoming more significant for companies like Amex?