American Express adds 2 new board members

American Express adds Palmisano and Lauvergeon to its board, effective March 1

Associated Press

NEW YORK (AP) -- American Express Co. on Thursday said two new directors will join its board on March 1.

Samuel Palmisano, former chairman, president and chief executive officer of IBM, and Anne Lauvergeon, a partner and managing director of investment firm Efficiency Capital and chairman and CEO of French advisory company A.L.P. SAS, were both elected to the board.

Palmisano served as the head of IBM from 2003 to 2011. He was chairman of the technology giant from January through September 2012, and continued as senior adviser he retired in December. He is also a member of the board of Exxon Mobil Corp.

Lauvergeon is a member of the board of directors of Total S.A. and Vodafone PLC. She is chairman of the supervisory board of the French newspaper Liberation.

American Express shares fell 37 cents to close at $61.54.

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