American Express adds two directors to board

American Express Company (NYSE: AXP) elected Randal K. Quarles and Noel Wallace to its Board of Directors, effective July 23, 2025, according to a company statement. The appointments expand the board to 14 members.

Quarles serves as Executive Chairman and Co-Founder of The Cynosure Group, a diversified investment firm, since 2022. He previously held the position of Vice Chairman for Supervision of the Board of Governors of the Federal Reserve System from 2017 to 2021 and was appointed Chair of the Financial Stability Board during that period.

Before his Federal Reserve role, Quarles was Managing Partner of The Cynosure Group from 2013 to 2017 and a partner at The Carlyle Group from 2007 to 2013. His government service includes positions as Under Secretary for Domestic Finance at the U.S. Department of the Treasury from 2005 to 2006 and Assistant Secretary of the Treasury for International Affairs from 2002 to 2005.

Wallace has served as President and Chief Executive Officer of Colgate-Palmolive Company since 2019 and Chairman of its Board of Directors since 2020. He joined Colgate-Palmolive in 1987 and held various senior management roles, including President and Chief Operating Officer from 2018 to 2019.

Quarles will join the board's Nominating, Governance, and Public Responsibility Committee and Risk Committee. Wallace will serve on the Audit and Compliance Committee and Compensation and Benefits Committee.

"We are honored to welcome Randy, who brings decades of financial services, public service, financial regulation and private equity experience, to our Board," said Stephen J. Squeri, Chairman and Chief Executive Officer at American Express.

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