( Reuters) – Warren Buffett’s Berkshire Hathaway Inc said on Friday that former American Express Co President Kenneth Chenault has been nominated to the corporation’s board of directors, changing Microsoft Corp co-founder Expense Gates.
FILE PHOTO: American Express Chairman and CEO Kenneth Chenault gestures during the White House summit on cybersecurity and customer security in Palo Alto, California February 13,2015 REUTERS/Robert Galbraith
The change was divulged in Berkshire’s annual proxy filing, ahead of its scheduled May 2 yearly conference.
Chenault, 68, led New York-based American Express from January 2001 to February 2018, and became one of the most prominent black CEOs in corporate America.
Berkshire understands Chenault well, having actually long been American Express’ biggest investor, and ending 2019 with an 18.7%stake in the travel and monetary services business.
Gates, 64, has known Buffett since 1991 and been a Berkshire director because 2004, now dedicates most of