American Express CFO Daniel Henry to Retire

Business LeadersReuters

American Express Co (NYSE:AXP) said Chief Financial Officer Daniel Henry will retire as soon as a replacement is found, a process that could take "a couple of months."

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"With our business, balance sheet and 2013 plans in strong shape, we decided that now was the right time to begin the transition," Chief Executive Kenneth Chenault said in a letter to employees released by the company.

Henry, 63, has been with American Express for 23 years and has served as CFO since 2007.

American Express launched a restructuring program in January that includes cutting about 5,400 jobs, or 8.5 percent of its workforce.