Losing Chris Burch Is a Bitter Bill for American Express

Having run the American Express as the Chief Executive Officer for the last 16 years, it is time for Mr. Kenneth Chenault to step down and pass the mantle to another person. His tenure has seen the card company grow despite the unending competition. Taking offers as the Executive Chief Officer will be Mr. Stephen Squeri. However, as he sets in, he will be confronted with the reality of stiff competition from other major companies and having lost major clients such as Chris Burch. The Forbes list American millionaire has been with the company since 1979 but shifted goals to JP Morgan this year.

Losing such a great client is a bad image for the company. Now it will be the task of the new CEO to ensure that he regains such customers. In his first task, he has to prove how he is up to the task by building the card giant’s momentum in the card business has faced stiff competition and the loss of its major clients.

Mr. Chenault is one of America’s most powerful African-American corporate leaders. To fit in his shoes, Mr. Stephen Squeri has to work extra harder in order to match his work. Mr. Squeri has been with American Express Co. for over three decades now and has served through different positions. He previously ran the company’s division in charge of AmEx corporate cards. He has spent more time meeting with shareholders and hence has a wide skillset on how to manage the company and increase shareholders portfolio.  Click this to learn more about his entrepreneurial skills.

About Chris Burch

Mr. Christopher Burch is a serial entrepreneur and founder Chief Executive Officer of Burch Creative Capital. He is an active entrepreneur and investor in different industries. He has been influential in the development of many technologies and luxury brands including Faena Hotel+ Universe, Poppin, Jawbone, and Voss Water.

His entrepreneurial skills span over four decades and have made a great fortune. In 2014, he made it to the Forbes list of America’s richest individuals. He formerly served on the boards of The Continuum Capital Group and Guggenheim Capital.

Mr. Chris Burch’s entrepreneurial success dates back to 1976. Together with his brother, Bob, they invested $2000 in a startup company, Eagles Apparel. Over time, they grew the company from the mere $2000 to $165 million. They then sold the company to Swire Group.   Related article on bjtonline.com.  Burch used the funds he got from the sale of Eagles Apparel to buy shares in Internet Capital Group, during its IPO.  Read more about his awesome resort investment on businessinsider.com.,

In 2011, the entrepreneur founded C. Wonder, accessories, apparel and home décor retailer shop which he later sold to Xcel Brands. Over his entrepreneurial career, Mr. Burch has contributed to the rise of over 50 companies. His company, Burch Creative Capital, is involved in the development of various consumer brands across different industries.  To read more about the diversity of his business, hop over to burchcreativecapital.com.

Know his latest cool contribution to the market, visit https://www.inc.com/magazine/201106/chris-burchs-latest-cool-company.html

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