For a long time AmEx, America’s card holding company, has been dominating the market with its revolutionary card services. While this is true, this is not the case anymore with lead card holders such as Christopher Burch switching their services to JP Morgan after being with the company since 1979. These developments occur when the company is having a change of leadership with Mr. Kenneth Chenault, the then Chief Executive Officer, handing over power to Stephen Squeri.
According to Kenneth Chenault, leading a company of America’s Express magnitude is not a walk in the park. During his time as the CEO, he has had to face and successfully overcome numerous hurdles with the biggest one being the 911 disaster. Despite Mr. Burch being a huge contributor to the business, thanks to his many entrepreneurial ventures, Mr. Kenneth is quite optimistic that the company under its new leader will be able to pull through as it has done before. So what is the plan for the new CEO? Additional article on architecturaldigest.com.
Mr. Stephen Squeri’s strategy coming into the business is quite simple; maintaining the rich and get the millennials as their clients. According to Burch, his decision to change his card from AmEx to JP Morgan could be avoided, but the company opted to give it a deaf ear. Therefore, Mr. Stephen Squeri seeks to ensure that their long-time clients’ issues are addressed and sorted whenever they arise. Second to this, Stephen seeks to tap into the growing market power of the millennials. This is advantageous as it will also help them get closer to the other population as they will need to fund the card services for their kids. In as much as Mr. Christopher Burch’s decision to leave AmEx is a big blow to the business, with the new strategies in place the card company is slowly regaining its lost position in the market. To learn more of his views on business related matters, check this link on entrepreneur.com.
About Christopher Burch
Christopher Burch is one of the few entrepreneurs who need no introduction in the industry; his great reputation precedes his name. Burch is a highly influential individual with a vast of experience in the hospitality, fashion, tech, and retail investment market.
Read about his latest innovative offering to the market, hit on this.
His history of the world of entrepreneurship dates back to his college years where he invested in the fashion business with his brother Bob, making huge returns from it. Refer to bjtonline.com to read more.
Here’s a proof of his impressive entrepreneurial skill on investment, http://www.businessinsider.com/chris-burch-nihi-best-hotel-in-the-world-2017-7