Financial Giant Among Men

Just a few days ago, BET honored Kenneth Chenault with the Corporate Citizen Award-a man Ebony magazine listed as one of 50 "living pioneers" in the African-American community in 1995. An unfamiliar name coupled with an unfamiliar face, Chenault has accomplishments that need to recognized and celebrated.

In 1997 Kenneth Chenault was named president and chief operating officer of American Express. In 2001 he became one of the first African Americans to hold this position in a Fortune 500 company.

The Harvard Law School graduate joined American Express in 1981. He took a position in the suffering merchandizing department, revitalizing it and leading his team to significant success. In the two years that Chenault ran the merchandising department, he transformed it from waning into the shadows of an abyss to tripling its revenues from $150 million to $500 million. 

He is credited with guiding the company through the economic devastation of the September 11 attacks in New York. The company assisted distressed employees and customers, waived late fees, and raised credit limits. It even chartered buses for stranded travelers. "In a crisis, you can't manage by manual; you have to manage by values and beliefs," Chenault said. Perhaps this is one of the many reasons that Chenault has an 88% approval rating among his employees. He is noted by his American Express personnel as being a compassionate leader, focusing on business management, and personal development.

Thank you BET for honoring Mr. Chenault. He is a giant among men whose ethics will continue to foster the vanishing moral compass in the financial industry. 

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