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American Express Elects Deborah P. Majoras to its Board of Directors
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management
Rhea-AI Summary
American Express announced the election of Deborah Platt Majoras to its Board of Directors, effective December 7, 2022. Majoras previously served as Chief Legal Officer at Procter & Gamble and has extensive legal and regulatory experience, including a term as Chair of the Federal Trade Commission. CEO Stephen J. Squeri highlighted her expertise in navigating complex environments and her advocacy for consumer protection as a significant asset for the Board.
Positive
Deborah Platt Majoras brings extensive legal and regulatory experience to the Board.
Her background in consumer protection and corporate governance will enhance strategic insights.
Negative
There may be concerns regarding continuity and experience gaps due to her previous departure from Procter & Gamble.
NEW YORK--(BUSINESS WIRE)--
American Express Company (NYSE: AXP) today announced that Deborah Platt Majoras has been elected to its Board of Directors, effective December 7, 2022. Ms. Majoras served as Chief Legal Officer and Corporate Secretary of Procter & Gamble Co. for 12 years until her retirement earlier this year and was previously Chair of the Federal Trade Commission from 2004 until 2008.
“Debbie brings decades of legal, regulatory, and public policy experience to our Board,” said Stephen J. Squeri, Chairman and Chief Executive Officer of American Express. “During her illustrious career, she has counseled global organizations on how to effectively navigate complex operating environments and made lasting impact through her advocacy and implementation of robust consumer protection policies while in government. Her extensive insights and experience will be a significant asset to our Board.”
Ms. Majoras joined P&G in 2008 and was named Chief Legal Officer and Corporate Secretary in 2010. She led a global department responsible for the company’s legal, government relations, brand protection and corporate governance functions. She and her team successfully protected P&G’s intellectual property, advised the business on mergers and acquisitions, and helped guide the company as it entered new markets and geographies.
Prior to P&G, Ms. Majoras spent several years working in government. In 2004, she was appointed Chair of the FTC by President George W. Bush. During her tenure, she focused the agency on ensuring data security and protecting consumers from emerging forms of fraud, including identity theft, spyware, and deceptive spam. Previously, she was Deputy Assistant Attorney General and later Principal Deputy of the U.S. Department of Justice’s Antitrust Division from 2001 to 2003, overseeing matters involving software, financial networks, defense, health care, media and entertainment, banking, and other industries.
Earlier in her career, she was an associate and partner at the law firm Jones Day, advising clients on civil and criminal antitrust matters, and was a member of the firm’s technology issues practice.
Ms. Majoras is a Director on the Board of Valero Energy Corporation. She also is a member of the Executive Committee of the United States Golf Association and serves on the boards of The Christ Hospital Health Network, the Cincinnati Legal Aid Society, and Westminster College, where she received an undergraduate degree.
She received a law degree from the University of Virginia.
Who was elected to the American Express Board of Directors on December 7, 2022?
Deborah Platt Majoras was elected to the Board of Directors of American Express.
What experience does Deborah Platt Majoras have?
Deborah Platt Majoras has extensive legal and regulatory experience, having served as Chief Legal Officer at Procter & Gamble and as Chair of the Federal Trade Commission.
How might Majoras' election impact American Express?
Her experience with consumer protection and corporate governance may enhance the strategic direction and oversight of American Express.
