Mark Zuckerberg just announced that Ken Chenault, the retiring CEO of American Express, has joined Facebook’s Board of Directors. From Zuckerberg’s Facebook page:
I’m excited to announce that Kenneth Chenault, the outgoing CEO of American Express, has agreed to join Facebook’s Board of Directors.
I’ve been trying to recruit Ken for years. He has unique expertise in areas I believe Facebook needs to learn and improve—customer service, direct commerce, and building a trusted brand. Ken also has a strong sense of social mission and the perspective that comes from running an important public company for decades.
Adding someone to our board is one of the most important decisions our board makes. It’s a long process that I take very seriously since this is the group that ultimately governs Facebook. Ken and I have had dinners discussing our mission and strategy for years, and he has already helped me think through some of the bigger issues I’m hoping we take on this year.
Welcome Ken, and I’m looking forward to working with you on our board.
Chenault will step down as head of AMEX on Feb. 1. He served as the company’s CEO for 16 years—making him the longest-serving executive in a company on the Dow Jones Industrial Average.
For more than 30 years, BLACK ENTERPRISE has covered the ascent of Kenneth Chenault at American Express, from managing its $315 million merchandising unit to serving as the transformative CEO of the financial services powerhouse with $32 billion in revenues and a payroll of 56,000-plus. American Express was also named one of the “50 Best Companies for Diversity” in 2018.
Chenault was named as one of Black Enterprise’s 40 Most Powerful Blacks in Business in 2010 and can be found on Black Enterprise’s most recent list of the “300 Most Powerful Executives in Corporate America.” For our exclusive coverage on Chenault, click the following links:
—Additional reporting by Derek T. Dingle