Business Travel News
Business Travel News
  • SECTIONS
    • Transportation
    • Lodging
    • Payment & Expense
    • Technology
    • Distribution
    • Meetings
    • Global
    • Management
    • Travel Procurement
    • Voices
    • Recent Issues
  • EXPERT Q&A
    • VIEW ALL INTERVIEWS
  • RESEARCH
    • Corporate Travel 100
    • Corporate Travel Index
    • Expense Managers Report
    • Small & Midsize Enterprise
    • Salary Survey
    • Meetings Management
    • VIEW ALL
  • LEARN@BTN
    • Business Travel Buyer's Handbook
    • Data Sources: The Reference Guide
    • White Papers & Case Studies
    • BTN's What to Watch 2018
    • Webinars
    • Videos
    • Hotel Search
  • EVENTS
  • INFLUENCERS
    • Business Travel Hall of Fame
    • 25 Most Influential
    • Travel Manager of the Year: Steven Schoen
    • Best Practitioners: Julia Fidler & Marta Rodriguez Martinez
    • Best Practitioner: Benjamin Park
    • Best Practitioner: Jennifer Steinke
    • Multinational Travel Manager of the Year: Bernd Burkhardt
    • Women You Should Know
    • Innovators You Should Know
Business Travel News
  • Business Travel News on Twitter
  • Business Travel News on LinkedIn
  • Business Travel News on Facebook
  • SECTIONS
    • Transportation
    • Lodging
    • Payment & Expense
    • Technology
    • Distribution
    • Meetings
    • Global
    • Management
    • Travel Procurement
    • Voices
    • Recent Issues
    Subscribe to NewslettersBTN DailyBTN GlobalBTN Travel ManagementTravel Procurement
    Subscribe to Print IssuesBusiness Travel NewsTravel Procurement
  • EXPERT Q&A
    • VIEW ALL INTERVIEWS
    Shai_WeissVirgin Atlantic's Strategy in a Global World
    Donnelly_StuartSixt Accelerates U.S. Growth
    WTMC Aims to Upend Distribution & Financial ModelsWTMC Aims to Upend Distribution & Financial Models
  • RESEARCH
    • Corporate Travel 100
    • Corporate Travel Index
    • Expense Managers Report
    • Small & Midsize Enterprise
    • Salary Survey
    • Meetings Management
    • VIEW ALL
    Annual Supplier Ratings• Car Rental Survey & Report• Hotel Survey & Report• Airline Survey & Report
    Specialized Research• Voice of the Traveler• Taking On Travel Risk Management
  • LEARN@BTN
    • Business Travel Buyer's Handbook
    • Data Sources: The Reference Guide
    • White Papers & Case Studies
    • BTN's What to Watch 2018
    • Webinars
    • Videos
    • Hotel Search
    What to Watch 2018What to Watch 2018

    16 experts advise on what’s to come this year.

  • EVENTS
  • INFLUENCERS
    • Business Travel Hall of Fame
    • 25 Most Influential
    • Travel Manager of the Year: Steven Schoen
    • Best Practitioners: Julia Fidler & Marta Rodriguez Martinez
    • Best Practitioner: Benjamin Park
    • Best Practitioner: Jennifer Steinke
    • Multinational Travel Manager of the Year: Bernd Burkhardt
    • Women You Should Know
    • Innovators You Should Know
  • Business Travel News Supplier DirectorySUPPLIER DIRECTORY
T R A V E L   P R O C U R E M E N T

Procurement

Former Amex CEO Received About Half of 2017 Target Compensation

By JoAnn DeLuna / April 16, 2018 / Contact Reporter
Share

Chenault's 2017 Amex Compensation: $11.8 Million

Base salary: $2 million

Portfolio grant award: $1.5 million

Annual incentive award: $8.25 million

American Express has awarded former CEO Ken Chenault $11.8 million for 2017, just over half his $22 million direct compensation target for the year. He received the total direct compensation for 2016. Despite the card network's good 2017, however, he didn't receive the full amount for the year mainly because his February 2018 departure from the company disqualified him from awards that are based on future performance, according to a filing with the SEC.

Ninety-one percent of the $22 million target compensation was based on whether Chenault met company and individual performance goals:

  • 31%: restricted stock options
  • 30%: annual incentive award represented
  • 23%: portfolio grant award
  • 7%: stock options

The remaining 9 percent is his $2 million base salary.

Because Chenault has left the company, he missed out on $8.25 million worth of stock options and restricted stock options that are awarded for future performance, according to the filing. He also received only $1.5 million of the $5.1 million target for the portfolio grant award. That target relies on financial and strategic milestones for the three years from 2018 through 2020, according to the filing.

However, Chenault received 125 percent of the annual incentive award target. The target was $6.6 million, and he received $8.2 million. That portion of total direct compensation usually is not paid entirely in cash, and for 2017, Amex's compensation and benefits committee deferred the entire payout into restricted stock options.

Chenault's target compensation has remained at $22 million since 2014, but the compensation and benefits committee lowered that figure to $16.2 million for 2018 for new chairman and CEO Steve Squeri, who took over on Feb. 1.

More Procurement
Related
Non-U.S. Small & Midsize Enterprises Lead Amex GCS Billing Volume

Card-billed business for American Express Global Commercial Services, the division that houses...

AccorHotels Posts Positive Q1 Results

AccorHotels reported positive overall growth in average daily rate, occupancy and revenue during the...

Energy Sector Boosts United's Q1 Corporate Revenue

United's revenue from corporate business grew 9 percent year over year in the first quarter as the...

More Procurement

Delta's Corporate Airfares Rose in Q1 but Still Lag 2014 Peak
The European Airline M&A Picture
Advito Starts Business Intelligence Practice
Lufthansa Reports Record Profit in 2017

VIEW ALL
Subscribe to Our

Free Newsletters

pixel2

Click Here for our Terms and Privacy Policy

Business Travel News Business Travel News
  • About Us
  • Contact Us
  • Advertise
  • Business Travel News on Twitter
  • Business Travel News on LinkedIn
  • Business Travel News on Facebook
BUSINESS TRAVEL NEWS
NORTHSTAR TRAVEL GROUP
Business Travel News
  • About Us
  • Contact Us
  • Advertise
  • Upload Print Ad Material
  • Purchase Reprints
  • Editorial Guidelines
  • Subscribe to BTN
  • Subscribe to Travel Procurement
  • Subscribe to Newsletters
  • Privacy Policy
  • Terms & Conditions
Business Travel News
Travel Procurement The Beat
  • Retail Travel
  • Travel Weekly
  • Travel Weekly Asia
  • Travel Weekly China
  • TravelAge West
  • travel42
  • Star Service Online
  • Intelliguide
  • Meetings & Incentives
  • Meetings & Conventions
  • Meetings & Conventions China
  • Meeting News
  • Successful Meetings
  • Incentive

  • Research
  • Phocuswright
  • Web In Travel
Northstar Travel Group Copyright ©2018 Northstar Travel Media, LLC. All rights reserved.    100 Lighting Way Secaucus, NJ 07094-3626 USA | Telephone: (201) 902-2000
RRManagement rrtestprocurement